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Brazil’s Former Billionaire Eike Batista Sentenced to 30 Years

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Once Brazil’s wealthiest man, businessman Eike Batista was sentenced to thirty years in prison in Rio de Janeiro this week for corruption and money laundering. Batista was found guilty of paying former Rio de Janeiro governor, Sergio Cabral US$16.5 million in 2011 and trying to conceal the bribe through a money laundering operation.

According to the Public Ministry, in order to hide the payment to Cabral, Batista created an offshore account with black market money Renato Chebar to transfer money to the former official. The investigations into . . .

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