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Meat & Livestock Brazil JBS

Police investigating fraud in BNDES loans to JBS

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On Friday morning, the Federal Police launched Operation Bullish, an investigation into fraud and irregularity in loans issued by Brazil's state-owned development bank, BNDES, through its BNDESPar subsidiary, to JBS. The loans, made as of June 2007, were to buy companies worth R$ 8.1 billion.

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