Brazilian Gov’t. Asks Eike Batista To Replace The Money Of His It’s Lost

There’s still no sign of the $350K seized from the former billionaire-- that a judge is under investigation for embezzling-- in one of the millions of legal actions against him, so the country’s securities regulator is seeking just enough to put three judges behind the wheels of Porsche Cayenne Turbos.

On Wednesday night, Brazil’s securities regulator, the C.V.M., fined him 1.4 million reais ($435,000) over securities violations. The regulator ruled that Mr. Batista had failed to inform the public in a timely manner of developments that affected the stock market prices of four of his companies, including the petroleum exploration company OGX. It was the first time that official sanctions had been imposed on Mr. Batista for his activities in his collapsed business empire.

Eike Batista Is Fined by Brazilian Regulator Over Securities Violations [DealBook]