Last week Brazilian police raided the home of once multibillionaire, now negative billionaire, Eike Batista. They froze his assets and took his Lamborghini, as well as six other cars, some fancy watches, and a pile of cash.
Now they have taken things a step further and seized his water toys too — including jet skis, a speedboat, and his yacht, the Spirit of Brazil, Bloomberg reported.
This comes after Batista’s oil company, OGX, lost $US9.7 billion and went bankrupt in 2013, pulling his own net worth down to about $US200 million.
Then Batista went on trial for insider trading and stock manipulation.
The story is, Batista started to suspect that OGX’s oil fields wouldn’t deliver, and personally guaranteed $US1 billion to keep things running.
It was enough to stabilise the plunging stock.
Then, prosecutors say, Batista made his move: when suspicions were confirmed and things really started to look bleak for the company, he allegedly sold his own stock and abandoned his $US1 billion promise.
Now, four of Batista’s companies are bankrupt and he reportedly owes $US1.2 billion.
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