Brazil s federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering, Brazilian media reported on Friday, according to Reuters. If the police probe leads to criminal charges against Batista, it would be yet another major blow for a businessman once hailed as Brazil's model entrepreneur and symbol of its economic success. Batista s EBX oil, mining and logistics empire, which two years ago was valued at $60 billion, collapsed last year in a mountain of debt and massive filings for bankruptcy protection. A week ago, Brazil's securities commission, CVM, announced that Batista was under investigation for insider trading as chairman of his now-bankrupt oil-producing company أ"leo and Gأ،s Participaأ§أμes SA, formerly known as OGX, and its sister company, shipbuilder OSX Brasil SA. Batista is now being investigated by the police at the request of federal prosecutors in Rio de Janeiro for financial crimes involving the allegedly illegal sales of shares before his conglomerate fell apart, O Globo newspaper reported. The police probe will focus on the sale of shares last year in oil producer OGX before the company informed the market that much of its reserves were not commercially viable, Folha de S. Paulo newspaper said. The Federal Police would not comment. -- SPA 22:08 LOCAL TIME 19:08 GMT تغريد
