I’ve been following the interesting insider trading prosecution trial of former Brazilian billionaire Eike Batista that has been unfolding in Rio de Janeiro. Three years ago, Batista was worth $30 billion and was declared “the pride of Brazil” by Brazil’s President. After the October 2013 collapse of his oil company, Batista is now reportedly worth negative $1 billion, and he is a defendant in a trial that could make him the first person ever sent to prison in Brazil for insider trading.
