Judge orders release of Brazil businessman

March 9, 2018

SAO PAULO (AP) — A judge has ordered the release of the former chairman of the world’s largest meatpacker who has spent six months in jail on allegations of insider trading.

Joesley Batista of meatpacking giant JBS was placed under temporary arrest in September of last year.

Federal Judge Marcus Vinicius Bastos ordered the release on Friday saying Batista had served two months more than the four months originally ordered to give authorities time to investigate the allegations against him.

It was unclear when Batista would leave jail.

Batista’s brother Wesley, JBS’s ex-chief executive officer, was released one month ago.

The brothers have testified that JBS paid bribes to scores of politicians in Brazil’s massive corruption investigation.

Prosecutors say the brothers used knowledge of their plea bargains in transactions that resulted in huge gains.

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