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Batista Insider Trading Case in 'Turmoil' After Judge Seen Driving Seized Porsche

Bruce Carton | February 25, 2015

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.

One of the most striking things about the trial and criminal proceedings now taking place in Brazil is the very, ummm, "different" conduct of the judge presiding over the case. In the U.S., of course, we are accustomed to judges declining to make any comments on a case that they are handling, and generally bending over backwards to avoid any appearance of impropriety...

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