Image of Wesley Batista in 2017, when he arrived for a CPMI hearing that investigated alleged irregularities in the public sector.| Photo: Joedson Alves/EFE

The brothers Joesley and Wesley Batista were acquitted by a majority of the members of the Brazilian Securities and Exchange Commission (CVM), this Monday (29), of the accusation of using privileged information for trading in the financial market between 2017 and 2018. At the time, Joesley he recorded a meeting he had with then-president Michel Temer (MDB), and which was leaked to the press in the episode that became known as “Joesley Day”, dropping the São Paulo Stock Exchange to 8.8% the following day.

In addition to the Batista brothers, other group executives and companies controlled by the businessmen were also acquitted in three lawsuits that investigated price manipulation, misuse of privileged information, violation of the duty of loyalty and abuse of control power. CVM president João Pedro Nascimento and directors Otto Lobo, João Accioly and Alexandre Rangel vote for acquittal, while director Flávia Perlingeiro asked for views of the processes and must present the missing vote within 60 days

Joesley and Wesley were arrested in September 2017, but released about six months later. The defense of the businessmen’s holding states that the CVM judgment “undoes the injustice committed against the group and the businessmen, confirming the fairness and legitimacy with which J&F, its executives and controlled companies have always operated in the financial market”.