Police in Brazil on Thursday arrested Eike Batista, the charismatic mining and o...
RIO DE JANEIRO - 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.
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 $16.5 million bribe to now-imprisoned former Rio de Janeiro Governor Sérgio Cabral in exchange for state construction contracts. Batista’s bribery conviction was linked to the rights to run Brazil’s most famous soccer stadium, the Maracana in Rio, which held the 2014 World Cup final and the opening ceremonies of the 2016 Olympic Games.
Reuters could not immediately reach TAI for comment. Credit Suisse did not immediately respond to a request for comment.
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