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 | Investigations Dataset

Stanford Foreign Corrupt Practices Act Clearinghouse a Collaboration with Sullivan & Cromwell LLP

Investigations Dataset

 
Investigation into BRF's Activities in Brazil · BRF S.A.

Information & Summary

Investigation into BRF's Activities in Brazil

Related FCPA Matter:   BRF's Involvement in Brazil Information

Information & Summary

Investigation Name:    Investigation into BRF's Activities in Brazil

Trend:    Operation Weak Flesh

Type of investigation:    Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation:   

  • Brazilian Federal Police (Departamento de Policia Federal)

Whistleblower:    Unknown

Summary

BRF S.A. (BRF), the world's largest poultry exporter, is incorporated and headquartered in Brazil. Its American Depositary Shares are registered on the New York Stock Exchange.

On March 17, 2017, the Brazilian Federal Police announced the "Carne Fraca" investigation (some reports refer to the investigation as "Weak Flesh" or "Weak Meat"), which ensnared several meat processing companies in Brazil in an investigation into alleged bribery of food sanitation inspectors. Among the companies named in the investigation was BRF.

On March 20, 2017, the company announced that it had initiated an internal investigation into the allegations.

In its 20-F filing on April 26, 2017, BRF disclosed that the DOJ and SEC had requested information relating to the Carne Fraca investigation, and in the company's subsequent 20-F, BRF indicated that these requests may have come due to the company self-reporting the Carne Fraca investigation to the agencies.

In a 6-K filed on February 26, 2021, BRF announced that it had received a letter on February 25 from the SEC informing the company that the agency had concluded its investigation and did not intend to pursue an enforcement action.

In a 6-K filed on May 6, 2021, BRF announced that the DOJ had issued a letter on May 5 stating that the agency had closed its investigation into BRF.

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