Former Billionaire Batistas Fate Lies in Rio Court

Ikki Batista, a former billionaire, is on trial in Rio de Janeiro for insider trading. If convicted, he could face up to 13 years in prison, marking a significant precedent in Brazil for capital market crimes. The prosecution accuses Batista of selling shares of his oil company, OGX, before announcing its non-viability, allegedly profiting from insider information. Batista claims the shares were sold under bank pressure due to investment pledges. The trial will determine the validity of these claims and set a legal benchmark in Brazil.

How do the prosecutors argue against Batista's defense?

What defense does Batista present regarding the sale of his shares?