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Brazil audit court sees irregularities in state bank loan to JBS

SAO PAULO May 12 Brazilian federal audit court TCU said it will investigate whether support from development bank BNDES for meatpacker JBS SA caused losses to taxpayers, according to a statement Friday.

The court said it found irregularities related to a loan of 1.13 billion reais ($362 million) from the bank to JBS in 2007, which the company used to finance the acquisition of Swift & Co. "The transaction represented an investment risk to BNDES at zero cost to JBS," said the TCU.

($1 = 3.12 reais) (Reporting by Maria Pia Palermo; Writing by Ana Mano; Editing by Cynthia Osterman)

我们的标准: 汤森路透“信任原则

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