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Brazil Ex-Billionaire Fined $134 Million For Insider Trading

Tuesday, May 28, 2019, 7:46 PM

Eike Batista, once the richest-man in Brazil, has been fined around $134-million for insider trading, the securities-commission said Monday, as ex-billionaire remains under house arrest pending an appeal against 30-year jail sentence. Apart from the fine, the 62-year-old also was banned for seven years from running a publicly traded company. Eike Batista was accused of selling shares in his oil company OGX in 2013.

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