AS JBS GOES PUBLIC ON NYSE WARNING OF U.S ANTI-MONEY LAUNDERING LAW VIOLATION
After a delay of nearly two years and multiple challenges and several amendments to its original U.S Securities and Exchange Commission filing, Brazilian meat giant, JBS, has gone public today on the world’s biggest stock exchange, giving it access to potentially billions of dollars of funding to expand its global, climate-wrecking operations. But as the famous bell rings on the first day of trading for JBS shares on the New York Stock Exchange (NYSE), it’s alleged the JBS listing may violate US Anti-Money Laundering laws, given that the company continues to profit from allowing cattle raised on illegally deforested land in Brazil to enter its beef supply chains.
In what’s likely the first challenge of its kind, Mighty Earth has submitted a legal Notice to the NYSE detailing JBS’s links to illegal deforestation in its beef supply chains in Brazil, in violation of local laws. Analysis outlined in the Notice by the Environment Investigation Agency U.S reveals that from May 2024 – April 2025, JBS S.A shipped beef products from Brazil to the United States worth roughly $767 million, highlighting the possible connection between the benefit from criminal conduct and US jurisdiction. Under US Anti-Money Laundering law, Mighty Earth claims the NYSE cannot knowingly facilitate or “launder” the proceeds of unlawful conduct by selling JBS’s shares and providing a platform to distribute dividends on its exchange.
Alex Wijeratna, Senior Director at Mighty Earth, said:
“It’s fitting that JBS is listed on the New York Stock Exchange on Friday 13th, but this is more than bad luck: it’s a catastrophe for the planet. Giving JBS access to billions of dollars of new funding will serve to supercharge its climate-wrecking operations and war on nature, which impacts us all. We and many others have shown that JBS continues to profit from allowing cattle grazed on illegally deforested land in the Amazon and other protected areas, to enter its beef supply chains in Brazil. The company has admitted as much. Using public markets to launder criminal proceeds may violate US Anti-Money Laundering laws. In what’s likely the first challenge of its kind, we’ve raised these serious concerns with the NYSE.”
ends
Notes to Editor:
- Legal Notice, full press release and new Mighty Earth Rapid Response #5 cattle report, which details new data of JBS links to illegal deforestation in Brazil available here
