Wesley Batista

Wesley Mendonça Batista
Born Wesley Mendonça Batista
(1972-12-08) 8 December 1972
Goias, Brazil
Citizenship Brazilian
Occupation Entrepreneur
Organization JBS S.A.

Wesley Batista (Formosa, born December 8, 1972) is a Brazilian entrepreneur and founder of JBS S.A. Wesley Batista is the president of the JBS group and is responsible for the implementation of JBS operations in the USA since the acquisition of Swift in 2007.[1]

Career

JBS founder and president

Wesley Batista and his brother Joesley Batista were listed in 2016 among the 70 main billionaires of Brazil by Forbes magazine.[2]

2016: Operation Car-Wash

In July 2016, Wesley Batista became a suspect in the investigations of Operation Car Wash. The Brazilian Federal Police charged him for alleged bribes made by his company, JBS S.A., to the former president of the Brazilian parliament Eduardo Cunha, which were intended to help JBS with the liberation of resources from the FI-FGTS.[3]

2017: Bribery and insider trading allegations

On May 17, 2017, the Batista brothers admitted to the Brazilian Federal Police bribing several Brazilian officers and politicians over the last 12 years. As a result of this bribes, him and his company JBS allegedly obtained funding from the BNDES of over R$10 billion at below market rates, and then using the funds to bribe politicians.[4] As compensation for the cooperation, the Brazilian Federal Police set Batista, his brother and other directors of JBS S.A. free of charges, having to pay a penalty of R$225 million.[5]

Prior to the release of the recordings, Batista and his brother Joesley Batista sold several shares of JBS S.A. and bought over USD 1 billion. The release of the recordings resulted in substantial reduction of the stock price of JBS S.A. shares and in the reduction of the value in the Brazilian Real. The Brazilian Securities Commission ("CVM") is investigating the Batista brothers for insider trading.[6] Wesley Batista decided to move to the USA.

References

  1. ↑ Wesley Batista: quem são os irmãos bilionários que podem derrubar Michel Temer
  2. ↑ 70 maiores bilionários do Brasil em 2016
  3. ↑ PF faz buscas na casa de Joesley Batista, da Friboi
  4. ↑ JBS pagou para conseguir aportes e financiamentos do BNDES, diz delação de Joesley Batista
  5. ↑ JBS pagará multa de R$ 225 milhões em acordo de colaboração premiada
  6. ↑ Brazil watchdog opens new probes into JBS-related insider trading
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