Brazil police seize luxury cars, cash from fallen tycoon Batista

February 6, 2015 5:19 PM

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Brazil police seize luxury cars, cash from fallen tycoon Batista

SAO PAULO (Reuters) - Brazilian police said they seized seven cars, including a white Lamborghini, and $32,490 in cash, computers, watches and other items on Friday from embattled oil and mining tycoon Eike Batista, who is on trial for insider trading in Rio de Janeiro.

Batista resigned as chairman of Oleo E Gas Participações SA, the flagship firm in his once-expansive EBX conglomerate on Jan. 27, two months after the trial started. The company formerly known as OGX is emerging from Latin America's largest-ever bankruptcy restructuring.

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