Ex-Banker to Pay $5.1m for Burger King Whopper

From hereisthecity.com

The Securities and Exchange Commission has 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. The SEC alleges that Igor Cornelsen and his firm through which he made trades - Bainbridge Group - reaped illicit profits of more than $1.68m by trading Burger King options based on confidential information ahead of the company's September 2010 announcement that it was being acquired by a New York ... (full story)