JBG weighs exit from US meat business after $46-b fraud

Jamaica Broilers Group (JBG) is contemplating a strategic exit from its beleaguered US meat business following a significant fraud scandal that has shaken the company. The decision comes as JBG implements a sweeping overhaul to restore financial stability and operational efficiency. The fraud, which spanned nearly four years, involved the deliberate underreporting of costs to artificially inflate profits, leading to $46 billion in balance sheet adjustments and the erasure of shareholder equity. The scheme was uncovered after a whistleblower alerted management, prompting immediate action.