Brazil Judge Orders Seizure of Ex-Billionaire Batista’s Assets

A Brazilian judge ordered the seizure of assets of former billionaire Eike Batista and those of two of his sons, his ex-wife and the mother of his third son.

Flavio Roberto de Souza, a federal judge in Rio de Janiero, ordered the seizure of all financial assets in Brazil and real estate worth as much as 1.5 billion reais ($547 million) of Batista, sons Thor and Olin, former wife Luma de Oliveira and Flavia Sampaio, the mother of his third son. The judge also ordered the seizure of Batista’s boat and airplanes, and requested information on his bank accounts, according to a copy of the ruling obtained by Bloomberg News.

The ruling said that Batista’s two sons, de Oliveira and Sampaio were beneficiaries of donations from him.

The press office of the federal court in Rio de Janeiro declined to comment. Lawyers for Batista and the press office of Batista’s EBX Group Co. holding company did not immediately respond to request for comment.

The trial for alleged insider-trading and market manipulation against Batista, the world’s eighth-richest person in early 2012 before his empire of commodities and logistics companies collapsed, started in November in Rio de Janeiro.

Souza suspended a second hearing of the trial set for December to consider combining the case with a similar accusation filed against Batista in the state of Sao Paulo.

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