Latin America
Related: About this forumBusinessman Eike Batista Is Fined US$133 Million for Insider Trading
His defense can contest the fines amount and length
May.28.2019 1:38PM
Raquel Landim
RIO DE JANEIRO
Brazil's Securities Commission (CVM) condemned businessman Like Batista on Monday (27) and fined him R$536 million (US$133 million) for "insider trading." Eike used privileged information when he traded shares of OGX petroleum.
He also cannot act as an administrator of a publicly-held company for seven years nor serve on a publicly-held company's board. The decision was unanimous and will be sent to the Federal Public Ministry. His defense can contest the 'fine's amount and the length of the penalty.
The CVM investigated Eike after a Folha report in November 2013 showed that the administrators of OGX knew, since July 2012, that the petroleum oil reserves did not amount to what had been shared with the public.
Back then, Eike tweeted to his 1.3 million followers urging shareholders to keep their shares, knowing that the main oil fields of his company were not viable.
More:
https://www1.folha.uol.com.br/internacional/en/business/2019/05/businessman-eike-batista-is-fined-us133-million-for-insider-trading.shtml
(When seeing the first time, thought it was odd this guy would have his photo taken
sitting in the car dealers show room. Then I learned it was his own home! WTF! (Is
he afraid someone will steal them if he leaves them outside?)
The End of Brazils Richest Man: Bald and in Jail
BY ANA CRISTINA CAMPOS JANUARY 30, 2017
Former Brazilian billionaire Eike Batista was arrested upon arrival at the Tom Jobim/Galeão International Airport, in Rio de Janeiro, by Federal Police officers. He was arriving from New York where he had gone on business.
Batista had been placed on Interpols list as an international fugitive. He was checked at the Medical Examiners Office (IML), in Rio, for his health condition and then sent to the Ary Franco prison in Rio de Janeiro.
The entrepreneur, who is the owner of the EBX group, is suspected of money laundering in a corruption scandal that has also ensnared former Rio de Janeiro state governor Sérgio Cabral, who is already jailed.
Batistas arrest warrant was issued last week as part of the Federal Polices Operation Efficiency, a spin-off case originating from the Car Wash probe.
More:
https://brazzil.com/the-end-of-brazils-richest-man-bald-and-in-jail/
Eike Batista's boat
Judi Lynn
(160,655 posts)Fugitive billionaire Eike Batista tracked to Trump Tower
TRUMP Tower staff may have tacitly admitted a fugitive Brazilian billionaire wanted over bribery charges has been staying at the US Presidents New York abode.
Staff Writers, AP
News Corp Australia Network JANUARY 27, 2017 10:10AM
TRUMP Tower staff may have tacitly admitted fugitive Brazilian billionaire Eike Batista wanted for allegedly paying $16 million in bribes has been staying at the US Presidents New York abode.
Brazilian police issued an arrest warrant earlier this week for the businessman who is famous for amassing and then losing a multibillion-dollar fortune. Its the latest move in a wideranging corruption probe in Latin Americas largest nation.
Brazilian news service O Dia reported overnight that he was believed to have fled to New York on Tuesday, taking up residence in a Trump Tower apartment.
One of their camera teams approached the front desk of Trump Tower overnight Australian time, asking to speak with the fugitive.
More:
https://www.news.com.au/world/fugitive-billionaire-eike-batista-tracked-to-trump-tower/news-story/e1d666e32bf78ff62f5b7ceb637558c0
sop
(10,274 posts)The two wealthy, corrupt brazilian brothers? The ones who received $62 million from the Trump administration, from the bailout money set aside for American farmers harmed by Tump's trade war with China? The pair who had already confessed to bribing hundreds of top officials in Brazil, and cannot leave their country?
Judi Lynn
(160,655 posts)about the brothers. Same country, same last name, same incredible wealth, same kind of scandal will hopefully put them all in prison, or is that foolish to hope?
Here's the quote: "Note: Eike Batista is not related to the Batistas who control JBS."
JBS Down With The Rest Of The Brazilian Market
Sep. 12, 2018 10:20 AM ET
https://seekingalpha.com/article/4205755-jbs-rest-brazilian-market
~ ~ ~
They all have been connected, in one way or another, to Trump, too. Enough to make a magat gag.