Brazilian charged with Burger King insider trading
WASHINGTON (MarketWatch) – The Securities and Exchange Commission on Friday charged a Brazilian ex-banker with allegedly illegally trading Burger King securities based on confidential information ahead of the restaurant chain’s 2010 acquisition by a New York private equity firm. The SEC alleges that Igor Cornelsen and his firm, Bainbridge Group, reaped illicit profits of more than .68 million by trading Burger King options based on confidential info. Cornelsen and Bainbridge Group agreed to pay more than .1 million to settle the charges.
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