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Selected Press Releases

Brazilian Ex-Banker to Pay $5.1 Million for Insider Trading in Burger King Stock

11/30/2012

Washington, D.C., Nov. 30, 2012 — The Securities and Exchange Commission today announced insider trading charges against a Brazilian ex-banker for his role in a scheme to illegally trade Burger King securities. The SEC previously charged a Brazilian citizen working in the Miami office of Wells Fargo with tipping him the inside information.Read more

SEC Charges Chicago-Based Investment Adviser With Defrauding Investors In Failing Private Equity Fund

11/29/2012

Washington, D.C., Nov. 29, 2012 — The Securities and Exchange Commission today charged a Chicago-based investment adviser and his firm with defrauding clients and others who were promised returns that would “beat the market” for investing in a private equity fund they managed. What investors didn’t know was the fund was failing and they were being used to raise money to repay promissory notes to earlier investors.Read more

SEC Charges Two Brokers with Insider Trading Ahead of IBM-SPSS Merger for $1 Million Profit

11/29/2012

Washington, D.C., Nov. 29, 2012 — The Securities and Exchange Commission today charged two retail brokers who formerly worked at a Connecticut-based broker-dealer with insider trading on nonpublic information ahead of IBM Corporation’s acquisition of SPSS Inc.Read more

SEC Charges New York-Based Fund Executives for Overvaluing Assets During Financial Crisis

11/28/2012

Washington, D.C., Nov. 28, 2012 — The Securities and Exchange Commission today charged three top executives at a New York-based publicly-traded fund being regulated as a business development company (BDC) with overstating the fund’s assets during the financial crisis. The fund’s asset portfolio consisted primarily of corporate debt securities and investments in collateralized loan obligations (CLOs).Read more

SEC Charges Oil Company CEO as Source in Insider Trading Case

11/28/2012

Washington, D.C., Nov. 28, 2012 — The Securities and Exchange Commission today announced charges against the former CEO of a Denver-based oil-and-gas company at the center of an insider trading scheme that the SEC began prosecuting last month.Read more