Once Brazil’s richest man, Batista is again arrested on money laundering suspicion

In recent years, scores of wealthy businessmen and high-profile politicians, previously thought untouchable, have been imprisoned in Brazil for their role in graft schemes.

Police and prosecutors said in statements that they arrested the eccentric former billionaire Eike Batista in Rio de Janeiro on a temporary basis



Police in Brazil on Thursday arrested Eike Batista, the charismatic mining and oil magnate who was once the country’s richest man, on suspicion of money laundering and insider trading.

Police and prosecutors said in statements that they arrested the eccentric former billionaire in Rio de Janeiro on a temporary basis. They also executed search warrants at the houses of a former executive at one of his firms, and the residences of Batista’s sons, Thor and Olin.

Batista has been under house arrest since early 2017 on separate charges. In early 2018, he was convicted and sentenced to 30 years in prison for paying a US$ 16.5 bribe to now-imprisoned former Rio de Janeiro Governor Sergio Cabal in exchange for state construction contracts.

Read the entire story at ‘Former Billionaire Eike Batista Is Again Arrested On Money Laundering Suspicion



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