No menu items!

Brazil’s Eike Batista Found Guilty of Insider Trading

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – With a 2 to 1 vote, Brazil’s Securities and Exchange Commission (CVM) found the once billionaire businessman Eike Batista guilty of insider trading, ordering Batista to pay a fine of R$21 million.

“There is proof that the changes in the (OSX) business plan were decided at a meeting of the company’s board of directors, presided by Batista, on April 15th, therefore before the operation to dispose of said shares," stated one of the officials Henrique Machado in the CVM process against Batista.

According to CVM officials, Batista . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?

Check out our other content