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Batista Insider Trading Case: From ‘Landmark’ to ‘Turmoil’ to ‘Farce’

Bruce Carton | April 9, 2015

Seriously, how could things get any more absurd in the now-derailed Brazilian insider trading case against former billionaire Eike Batista? The case was supposed to be a landmark prosecution -- a stunning criminal case against a man that Brazil's president once called the “pride of Brazil” -- that might have made Batista the first person ever sent to prison in Brazil for insider trading. 

As the trial was in its early stages, however, it was thrown into turmoil by the erratic behavior of the presiding judge, Judge Flavio Roberto de Souza of the federal court in Rio de Janeiro. As I discussed here, Judge Souza got himself kicked off of the case after publicly calling...

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