BRASILIA: Brazil federal prosecutors have filed criminal charges against Eike Batista, accusing the fallen tycoon of market manipulation and seeking to freeze up to 1.5 billion reais (US$641mil) worth of his financial assets and properties.
The Rio de Janeiro prosecutor’s office said on Saturday it is charging Batista for deceiving investors with a “simulated” promise two years ago to invest US$1bil in oil company OGX, now known as Oleo e Gas Participacoes SA, if shares fell to a certain level. Batista failed to fulfill his promise, known as a put option, when the shares touched that level.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
