Tag: Eike Batista

Thursday, October 3rd 2019 - 09:43 UTC
Brazil's ex richest man receives additional sentence for inside trading

Eike Batista, formerly Brazil’s richest man, was sentenced to an additional eight years and seven months of prison time this week for insider trading. Batista, 62, had already been convicted for paying US$ 16.6m to get government contracts as part of a sprawling corruption probe known as Carwash and sentenced to 30 years, which he is serving under house arrest.
Monday, August 12th 2019 - 07:35 UTC
Brazilian justice releases Batista once the country's richest man

A Brazilian judge ordered the release of ex-billionaire Eike Batista late Saturday after he was detained for violating the terms of his house arrest, local media reported.
Friday, August 9th 2019 - 10:31 UTC
Once Brazil's richest man, Batista is again arrested on money laundering suspicion

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.
Tuesday, May 28th 2019 - 09:03 UTC
Brazil's once richest man fined US$ 134 million for insider trading

Eike Batista, once the richest man in Brazil, has been fined around US$134 million for insider trading, the securities commission said on Monday as the ex-billionaire remains under house arrest pending an appeal against a 30-year jail sentence.
Wednesday, July 4th 2018 - 09:02 UTC
Brazilian ex-billionaire sentenced to 30 years in prison for corruption

A Brazilian businessman famous for amassing and then losing a multi-billion-dollar fortune has been convicted of corruption and money laundering and sentenced to 30 years in prison.
Tuesday, January 31st 2017 - 12:07 UTC
Brazil's ex richest man jailed on return from US; he is linked to the Petrobras scandal

Former Brazilian billionaire Eike Batista on Monday turned himself in to police in Rio de Janeiro on Monday on charges related to the Petrobras corruption scandal. He was detained shortly after arriving from New York.
Sunday, November 3rd 2013 - 00:03 UTC
Brazil's golden boy files for bankruptcy; an example of overblown expectations?

Just a few year ago, flashy Brazilian billionaire Eike Batista was bragging that he would soon overpass Carlos Slim as the world's richest man. He even liked to show visitors his Mercedes-Benz McLaren parked right in the living room of his mansion. But his fall has been deep and fast.
Thursday, October 3rd 2013 - 19:29 UTC
Collapse of a 35bn dollars empire; Brazil’s Eike Batista defaulted on 45 million interest payment

Two days ago, former Brazilian billionaire Eike Batista crossed a line. He started to default on a 45 million dollars interest payments on his oil and gas company, OGX's, bonds. The default will be official on October 30th, according to Bloomberg. That leaves bondholders, like PIMCO, the largest bond fund in the world helmed by legendary investor Bill Gross, taking a massive hit. And what's worse is that there could be more to come, according to the Wall Street Journal.
Monday, September 23rd 2013 - 20:56 UTC
Brazil’ Bovespa implementing changes to update its benchmark Ibovespa

Brazil’s main stock exchange Bovespa is implementing changes to its benchmark Ibovespa stock index, the first since 1968, in an effort to correct recent distortions and better reflect the performance of local shares.
Tuesday, July 3rd 2012 - 19:05 UTC
China scraps plan to build 5 billion dollars steel plant in Brazil

A major Chinese steelmaker has scrapped a plan to build a five-billion-dollar factory in Brazil due to high costs and a slump in global prices for the metal, state media said Tuesday.