Ex-Billionaire Batista’s Bank Accounts Frozen

A federal judge in Rio de Janeiro ordered the freezing of the personal bank accounts of Brazilian businessman Eike Batista to the extent of $640 million as a preventive measure after he was accused of financial-market crimes.

Batista’s commodities empire collapsed last year, led by flagship Oleo e Gas Participacoes SA (BVMF:OGXP3) (OTCMKTS:OGXPY), formerly known as OGX.

Eike Batista accused of insider trading

Federal prosecutors filed charges against Eike Batista, who was once the world’s eighth-richest person, according to the Bloomberg Billionaires Index. The prosecution claims that Batista profited from...