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.
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(Reporting By Jonathan Stempel in New York; Editing by Gerald E. McCormick)