Weekly Report - 18 September 2014 (WR-14-37)

Just over R$100m (US$42m) of the Brazilian-based assets of the business magnate Eike Batista have now been frozen, following a ruling on 16 September by Rio de Janeiro’s federal court. Over the weekend, public prosecutors accused the former billionaire of engaging in market manipulation and insider trading, and filed a motion requesting the court freeze R$1.5bn (US$640m). Though both criminal offences, with a possible jail time of up to 13 years, no one in Brazil has ever been jailed for such a crime. White-collar crime is still treated remarkably leniently in the country.

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