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Eike Batista
Brazilian tycoon faces fresh charges in fall of oil empire
Brazilian tycoon faces fresh charges in fall of oil empire

Eike Batista, until recently the richest man in Brazil and one of the wealthiest worldwide, has been charged with fraud and conspiracy in connection with the collapse of his oil and energy empire. Batista, formerly a self-proclaimed symbol of his country's explosive growth potential, already had been accused of insider trading and his assets had been frozen. Batista, who had a fortune of $30 billion in 2012, recently said he owes more than $1 billion. The new charges, also levied against seven executives in Batista's OGX oil company, include misrepresentation, inducing investors to error and forming a conspiracy. They were filed by  federal prosecutors Tuesday and...

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