J&F Investimentos, the controlling shareholder of the world's largest meatpacker, JBS, has agreed to pay a fine of 10.3bn reais ($3.2bn; £2.4bn) for its involvement in one of Brazil's biggest corruption scandals.

The testimony by J&F's owners Joesley and Wesley Batista that they spent 600m reais to bribe nearly 1,900 politicians have deepened Brazil's political crisis, and could even topple President Michel Temer from his position.

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An audio tape was presented to the prosecutors by Joesley Batista – leaked to the press – in which Temer appears to condone bribing a witness. The audio of the conversation between the president and Joesley was reportedly recorded using a hidden device.

Temer has said the recording is genuine and was taken from a meeting in March but denies any wrongdoing.

In the recording, Temer can be heard discussing hush-money payments to silence politician Eduardo Cunha, who is currently in prison.

"I never authorised any payments for someone to be silent," Temer said in a televised address. "I did not buy anyone's silence. I fear no accusations."

Most of the fine J&F will pay will be divided among Brazil's development bank BNDES, FGTS workers' severance fund, two pension funds for employees of state-controlled companies and lender Caixa Econômica Federal. Prosecutors said on Tuesday (30 May) that the payments will start in December and J&F will have 25 years to pay the fine.

Operation Car Wash investigating the corruption scandal has been on for over three years.

The country's Supreme Court has approved an investigation into the allegations against the president.

JBS agrees to pay record $3.2bn corruption fine
Joesley and Wesley Batista have spent 600m reais to bribe nearly 1,900 politicians. File Photo REUTERS/Ueslei Marcelino