‘Enforcement 40’ for 2020
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Sept. 15 Webcast: The Current Compliance Landscape in Brazil–What You Need to Know About New Forms of Fraud, Corruption and Other Crimes
Please join Iris Bennett, Carlos Ayres and Steven Neuman for this free webcast.
Former Billionaire Eike Batista Convicted for Insider Trading – Bloomberg
Eike Batista, formerly Brazil’s richest man, was sentenced to an additional eight years and seven months of prison time on Monday for insider trading. Batista, 62, had already been convicted for paying $16.6 million to get government contracts as part of a sprawling corruption probe known as Carwash and sentenced to 30 years, which he […]
Brazil ex-billionaire fined $134 million for insider trading
Eike Batista, once the richest man in Brazil, has been fined around $134 million for insider trading, the securities commission said Monday, as the ex-billionaire remains under house arrest pending an appeal against a 30-year jail sentence. Apart from the fine, the 62-year-old also was banned for seven years from running a publicly traded company. […]
Brazil’s Former Billionaire Eike Batista Sentenced to 30 Years | The Rio Times | Brazil News
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. via Brazil’s […]
Brazil’s Petrobras to settle US class action lawsuit over corruption
Brazil’s state-controlled oil company, Petroleo Brasileiro, said on Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption scandal. Petrobras, as the company is known, denied any wrongdoing under the deal, which is one of the […]
JBS boss Wesley Batista arrested on insider trading charges
According to the Brazilian police, the insider trading amounted to $44 million. It has been alleged that the brothers sold shares in their company ahead of the bribery allegations coming to light, knowing that shares would fall. If they are found guilty of these charges, they would be the first people in Brazil jailed for […]
Brazil’s Eike Batista Found Guilty of Insider Trading | The Rio Times | Brazil News
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. via Brazil’s Eike Batista Found Guilty of Insider Trading | The Rio Times | Brazil News
Brazil’s Petrobras Trial Date Set, As U.S. Pension Funds Seek ‘Tens of Billions’ In Losses – Forbes
Brazil’s oil company Petrobras will finally get its day in a U.S. court on Sept. 19 in a trial that pits 18 former executives and 13 investment banks, including J.P. Morgan Securities, against U.S. and U.K. investors. Claimants are seeking “tens of billions of dollars” in losses. via Brazil’s Petrobras Trial Date Set, As U.S. […]
Former Allen & Overy partner charged in Petrobras-SBM Offshore bribe case – The FCPA Blog
A former Allen & Overy partner who led the firm’s Amsterdam office was among a dozen people charged last week by prosecutors in Brazil as part of the corruption investigation into Petrobras, the state-owned oil company. via Former Allen & Overy partner charged in Petrobras-SBM Offshore bribe case – The FCPA Blog
Brazil’s Petrobras: We lost $2 billion to bribery — CNNMoney
Brazil’s Petrobras has put a price tag on its massive corruption scandal, writing off $2 billion for bribery-related costs via Brazil’s Petrobras: We lost $2 billion to bribery – CNNMoney