Brazil’s Federal Police have arrested businessman Eike Batista on suspicion of money laundering. Law enforcement officials believe Batista accomplished this by trading Bitcoin (BTC).
Trading for Wife
It was reported that prosecutors allegedly discovered notes that indicated the businessman engaged in crypto trading for his wife. Mrs. Flavia reportedly is currently not under investigation.
The Federal Prosecutor stated that while Batista’s wife is not being treated as a suspect, the evidence suggests the businessman was using her account to hide the proceeds of his activities.
Batista’s arrest was said to be the result of Operation Midas Secret, a program that appears to have the support of Eduardo Plass, the owner of TAG Bank.
Fernando Martins, Batista’s lawyer, claims his client’s arrest is illegal.
According to the allegations of the Federal Prosecution Service, Batista, and Luiz Andrade Correia, one of his employees, utilized one of Plass’ companies to purchase and sell shares in both the international and domestic markets with the intention of manipulating business assets.
The two men are also suspected of illegally trading on the Toronto Stock Exchange and to have committed fraud in conjunction with the OGX, MPX, and MMX stock trading.
The Office of the Attorney General also stated that Correia and Batista and traded illegally on underground stock exchanges, with Brazil’s Ministry of the Public claiming the due had conducted dubious transactions worth $800 million.
Batista held the distinction of being the richest person in Brazil in 2012, with an estimated net worth of about $15 billion. He has also been listed as the seventh richest man in the world by Forbes.