Former Billionaire Eike Batista Convicted for Insider Trading
- Brazilian businessman had already been sentenced to 30 years
- Prosecutors pursuing more accusations against entrepreneur
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Eike Batista, formerly Brazil’s richest man, was sentenced to an additional eight years and seven months of prison time on Monday for insider trading.
Batista, 62, had already been convicted for paying $16.6 million to get government contracts as part of a sprawling corruption probe known as Carwash and sentenced to 30 years, which he is serving under house arrest.