Thursday, November 20, 2014

Brazil Ex-Billionaire on Trial for Insider Trading


One of the biggest problem in Brazil is corruption. Every year we watch more and more cases about politics and rich people that use the Brazilian poor system to get advantage in their business like privileged information in the economical market. In 5 years we discovered many cases of corruption in our government and now many politics are at jail, but it is difficult when the criminal is a really rich people because they can buy all the judges and laws people involved. These people are cheaters and doesn`t care about our country. Eike Batista, one of seven children, was born in the state of Minas Gerais, in southeastern Brazil. His mother was German and his father, Eliezer Batista da Silva, was a prominent Brazilian businessman who served as the country’s minister of mines and energy in the 1960s. After making millions of dollars in mining ventures during the 1980s, Batista expanded his business over the following two decades.  In 2008 Forbes magazine added Batista to its annual list of billionaires, and by 2010 he had climbed the list to become one of the 10 wealthiest people in the world. His personal fortune has been decimated by the spectacular decline in his companies’ stock prices, going from $30 billion to less than $1 billion. Now he is being investigated by many corruption cases in his companies and a, he is waiting for justice decision at this time. He said he is innocent but actually I cant believe in his words

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