SEC charges ex-banker with insider trading in Burger King

Fri Nov 30, 2012 7:02pm GMT

Quotes

   

Nov 30 (Reuters) - A former Brazilian banker agreed to pay nearly $5.2 million to settle U.S. Securities and Exchange Commission charges of insider trading in Burger King Holdings Inc options before the restaurant chain agreed to a September 2010 buyout.

The SEC said the settlement with the former banker Igor Cornelsen and Bainbridge Group Inc, the firm in which he made his trades, includes a $3.36 million fine, the disgorgement of $1.68 million of illegal profit, and $136,621 of interest. It requires court approval.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.