Brazil’s tainted-meat scandal turns stomachs, but doesn’t keep investors away
Corruption scandals being revived as the country’s economy improves leaves investors unfazed, but might affect October’s presidential election
São Paulo — Brazil’s corruption scandals just won’t go away. A year-old tainted-meat investigation turned stomachs again on Monday amid accusations that employees at poultry giant BRF altered samples to hide poor sanitary conditions and salmonella contamination. This comes days after the sprawling Carwash corruption probe ensnared toll-road operator CCR in the investigation’s 48th phase — yes, 48th. The news sent shares of the affected companies tumbling, and showed how the effort to root out corruption is still claiming victims years after it began roiling the government and state-controlled oil producer Petróleo Brasileiro. And for some, the effects have been long lasting. Odebrecht, the conglomerate that has admitted to its role in a kickback scheme, has seen bonds drop to new lows as the construction giant struggles to overcome the damage. The revived probes come as Brazil’s once-tottering economy improves and its stock market posts one of the world’s best rallies. So far invest...
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