Mr. Batista cultivated close ties with government officials, and he received more than $4 billion in loans and investments from the national development bank. Advertisement Continue reading the main storyThis is not the first time Mr. Batista has faced legal troubles. In November 2015, regulators barred Mr. Batista from serving as a corporate officer for five years. The new arrest warrant for Mr. Batista is an outgrowth of a multiyear inquiry into graft involving Petrobras, the state-owned oil company. Federal prosecutors said in a statement that Mr. Batista had paid $16.5 million to Mr. Cabral in 2011 through offshore accounts in Panama and Uruguay.

Source: New York Times January 26, 2017 13:41 UTC