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Brazil's Landmark Insider Trading Case Derailed as Seized Cash Now Missing

Bruce Carton | March 11, 2015

When we last checked in on the Brazilian insider trading case against former billionaire Eike Batista, the case was, by all accounts, in "turmoil." As I discussed here, the criminal prosecution against Batista -- a landmark case that may make him the first person ever sent to prison in Brazil for insider trading -- was derailed in late February 2015 by the ongoing unusual conduct of the trial judge, Judge Flavio Roberto de Souza.

To recap, Judge Souza had already drawn the ire of Batista's lawyers in November 2014 when he told reporters following the trial's first hearing that Batista had "a megalomaniac dream of becoming the world's richest man. To see a person with that type of attitude sitting on the accused bench is really a historic moment."
 
Judge Souza followed that up in February 2015 by being seen...
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