Tuesday, February 14, 2017

Riches......


Image result for rag to riches and back cartoon


Once known as Brazil's richest man, Eike Batista has had the biggest drop in net worth of any other billionaire to date. It is estimated that his wealth peaked at $30 billion in 2012, but Batista claims he is now worth a negative $1 billion.

Federal Police in Rio de Janeiro seized six vehicles, computers, mobile phones, watches and roughly $32,500 in cash from the business magnate and former race car driver.

Batista was served with a search warrant on Feb. 6 after Judge suspected the businessman had sent money abroad, according to The Wall Street Journal.
Judge de Souza had frozen almost $82.8 million of Batista's financial assets early in the suit as guaranteed payment for penalties if he was found guilty. 

Batista made and lost his fortune in mining, oil and gas exploration. He was accused of market manipulation and using privileged information to make a profit of about $95 million through the sale of company stock in September 2014.

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