Ex-Billionaire Charged by Brazil With Financial Crimes
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Brazilian federal prosecutors in Rio de Janeiro state accused former billionaire Eike Batista of financial-market crimes and are seeking to freeze his assets.
The charges of insider trading and market manipulation carry jail sentences in Brazil of as much as 13 years, according to a statement posted on the office’s website. The freeze could affect assets valued at as much as 1.5 billion reais ($641 million), and may include homes, cars, boats, airplanes and financial holdings, the statement said.