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Join the Securities Litigation and Enforcement Group on LinkedInBrazilian Police Issue Warrants Against Alleged Leader of $767M Crypto Pyramid Scheme
On Thursday, a hundred police officers took to the streets of six Brazilian cities to serve search and seizure warrants against Francisley Valdevino da Silva, who is accused of running a cryptocurrency pyramid scheme that raised $767 million. At the time of publication, there was no news on whether he had been arrested. The justice […]
SEC Charges Gol Intelligent Airlines, Brazil’s Second Largest Airline, with FCPA Violations
The Securities and Exchange Commission today charged Brazil’s second largest domestic airline, GOL Linhas Aéreas Inteligentes, for violating the Foreign Corrupt Practices Act (FCPA). The São Paulo-based company, also known as Gol Intelligent Airlines, agreed to pay $70 million to settle the SEC charges. According to the SEC’s order, Gol bribed prominent Brazilian government officials […]
Brazil Gets Crypto-Dedicated Investigation Unit to Expedite Probes, Stir Awareness | Technology News
Brazil is taking active measures to ensure that crypto-related crimes in the nation are tackled with dedicated precision. The public prosecution office of Brazil’s central-western Federal District is behind the launch of this cryptocurrency investigation unit. The newly formed wing will also contribute in driving education and awareness around the crypto sector in the nation. […]
Nov. 17 Webcast: Internal Investigations in Brazil and the U.S. – Comparative Approaches and Challenges
Please join Iris Bennett, Carlos Ayres and Steven Neuman for this free webcast.
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 […]