In its Form 6-K filed with the Securities and Exchange Commission on August 12, 2019, Ambev S.A., a soft drink manufacturer and brewing company based in Brazil, disclosed that it had received a letter from the Brazilian Securities Commission requesting information about the company’s involvement with a consulting company, Projeto Consultoria Empresarial e Financeiro Ltda, which is owned by Antonio Palocci, the former Brazilian Minister of Finance. Attached to the Brazilian authorities’ information request was a letter published in a Brazilian newspaper that alleges that Ambev paid bribes to Palocci and to former presidents Luiz Inacio Lula da Silva and Dilma Rousseff for the purpose of preventing a tax increase on alcoholic beverages. Ambev is the largest brewer in Latin America and one of the largest beer producers in the world. It is a subsidiary of Interbrew International B.V., which is a subsidiary of Anheuser-Bush InBev.
August 13, 2019
Brazilian beverage company under investigation for bribery
Related by Topic
New Post
Former oil and gas trader convicted in Connecticut of FCPA and money laundering violations
September 30, 2024
News Alert
Recent Expansion of SEC Whistleblower Protection Rule Enforcement
September 16, 2024
Insight