Power

Eike Batista: from Forbes rich list to house arrest

eike batista arrested
Eike Batista in 2017

For years, the name Eike Batista was associated in Brazil with power, fame, and a boatload of cash. Not anymore. Once Brazil’s richest man, the former business mogul is now a convicted felon. He was sentenced to 30 years in prison and fined BRL 53 million for his participation in a vast corruption scheme that operated in the state of Rio de Janeiro. According to authorities, Mr. Batista paid over USD 16 million in kickbacks to Rio’s former governor Sérgio Cabral – who is already in prison and was handed a 22-year sentence in the same case.

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