Brazilian Tycoon Batista Investigated for Financial Crimes - Reports
Brazilian Tycoon Batista Investigated for Financial Crimes - Reports
April 18, 2014 9:07 PM PDT
Brazil´s federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering, Brazilian media reported on Friday.
If the police probe leads to criminal charges against Batista, it would be yet another major blow for a businessman once hailed as Brazil's model entrepreneur and symbol of its economic success.
Batista´s EBX oil, mining and logistics empire, which two years ago was valued at $60 billion, collapsed last year in a mountain of debt and massive filings for bankruptcy protection.
A week ago, Brazil's securities commission, CVM, announced that Batista was under investigation for insider trading as chairman of his now-bankrupt oil-producing company Óleo and Gás Participações SA, formerly known as OGX, and its sister company, shipbuilder OSX Brasil SA.
More:
http://ca.ibtimes.com/articles/548718/20140418/brazilian-tycoon-batista-investigated-financial-crimes.htm
It would be so much better if we could get ocpagu's insights on this creep. Speaking for myself, I have to mention it was wonderful when she took time to give us the background on news stories from Brazil. All the right-wing dirtbags in the universe wouldn't be worth one fingernail clipping from this excellent DU members' friend.
