Brazilian authorities raided the mansion of fallen tycoon Eike Batista last week. In it, they found over $US32,000 worth of Brazilian reais in cash along with jewels, cell phones and a number of expensive toys including 7 cars.
The raid was announced on the Brazilian federal police’s website with a picture of Batista’s prized Lamborghini Aventador being taken away. Previous reports had said that Batista sold the car to a dealership, but apparently the deal fell through.
Here’s what it looked like:
A Judge ordered Batista’s assets frozen last week as the government continues its investigation against the man who, three years ago, was confident he would become the richest person on the planet.
Since then, however, the empire he built on the back of Brazil’s economic rise and the country’s commodities has fallen hard. Oil fields that were supposed to spew black gold were actually dry. Creditors have called in their debts turning Batista into a ‘negative billionaire’. According to Bloomberg, he owes $US1.2 billion.
Now he faces charges of insider trading, and could be the first man in Brazil to go to jail for such a crime.