Brazil authorities seize luxury autos, other assets from Eike Batista

Brazil’s Federal Police on Friday seized seven automobiles, two of them luxury vehicles, and other assets from Brazilian businessman Eike Batista, who until 2013 was one of the world’s wealthiest individuals.

A federal judge in Rio de Janeiro issued the order to guarantee payment of future penalties if Batista is found guilty of insider trading and stock market manipulation, according to the former magnate’s attorney, Sergio Bermudes.

The court told Efe it could not confirm the information because the case is currently under judicial consideration.

Among the vehicles seized was a white Lamborghini Aventador LP 7004, which Batista used to decorate the living room of his apartment in Rio’s upscale Jardim Botanico neighborhood.

Authorities also confiscated a white Porsche Cayenne Turbo S and five other cars, as well as computers, cellphones, watches and 90,000 reais (some $33,000) in cash, the Federal Police said in a statement.

The Lamborghini, the Porsche and the other assets were taken to the Federal Police headquarters in Rio de Janeiro, a scene filmed by the media.

“They didn’t even leave him money to buy bananas for his threeyearold son,” the G1 news portal quoted Bermudes as saying.

Batista is accused of insider trading and market manipulation prior to the collapse of his OGX oil company, actions that prosecutors say cost minority shareholders some $580 million.

OGX was the crown jewel of the business empire headed by Batista, whose net worth was once estimated at $30 billion.

Prosecutors accuse Batista of not informing investors about the the lack of viability of three offshore fields operated by OGX and of selling a large proportion of his shares at an elevated price on the basis of that privileged knowledge.

Batista also is charged with deceiving investors by failing to follow through on a promise to invest $1 billion in OGX, which filed for bankruptcy in 2013.

The criminal trial began last November with testimony by several of the prosecution’s witnesses.

No date has yet been set for defense witnesses, including Batista himself, to testify.