Brazilian Ex-Billionaire Batista Sentenced to 30 Years in Jail for Bribery

No Comment 24 Views

Brazilian Eike Batista, the former oil and mining billionaire who lost his fortune and spent time in jail last year for alleged corruption, will have to hang about behind bars for the next 30 years.

After a corruption trial, the outspoken entrepreneur whose meteoric rise and fall made him the poster boy of a decade-long boom in Brazil that ended four years ago, was found guilty of bribing former Rio de Janeiro governor Sergio Cabral, Folha de Sao Paulo reports (in Portuguese).

The verdict was based on mounting evidence that Batista had paid about $21 million to foreign bank accounts held by Cabral in exchange for contracts with Rio State.

Read the original article here:

Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions