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JBS founder José Batista Sobrinho has taken over as CEO while two of his sons are in jail following insider trading accusations.

Joesley Batista, one of the controlling owners of JBS SA, was arrested again as part of an ongoing investigation into Brazilian corruption.

Federal police in Brazil sent a formal request to prosecutors to pursue insider trading charges against Wesley and Joesley Batista, owners of JBS SA.

Shares jump as Gilberto Tomazoni succeeds Batista as CEO, while Guilherme Cavalcanti appointed chief financial officer.

JBS SA, the world’s largest meatpacker, said late Tuesday that Wesley Batista will return to his post as chief executive officer, just hours after temporarily stepping down amid a probe by Brazilian police into investments made by state-run pension funds.

JBS’s founders are known for both big business and scandals.

JBS SA۪s decision to replace the Brazilian company۪s jailed chief executive with his father was a sign of deviousness and should be investigated, the head of state development bank BNDES, the company۪s second-larges

Tarek Farahat vows to restore trust in world's largest protein company.