JBS CEO ordered to step aside in Brazil pension fund probe
06 Sep 2016

Brazilian police launched an investigation of fraud at state-run companies’ pension funds on Monday, as a judge ordered dozens of senior financiers and executives away from their firms, including the chief executive of the world’s biggest beef exporter.

Police carried out five arrests, more than two dozen interrogations and over 100 search warrants, seizing jewels, luxury vehicles, artwork and an airplane in an asset freeze to cover up to 8 billion reais ($2.5 billion) in alleged damages.

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