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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Once one of Brazil’s richest man, Eike Batista, has been accused of insider trading, a crime punishable with up to thirteen years in jail if found guilty, according to the federal prosecutor’s office in Rio de Janeiro. Brazil’s Ministério Publico (Federal Prosecutor’s Office) filed a motion asking the courts to freeze R$1.5 billion worth of Batista’s assets.

The amount, says federal officials, is approximately what the oil tycoon obtained using Subscribe to our Premium Membership Plan. Already Subscribed?