The Securities and Exchange Commission said Friday it's received an emergency court order to freeze assets in two brokerage accounts used to reap more than $1 million in alleged insider trading profits in connection with last week's announcement that Liberty Interactive was buying General Communication . The traders, who are currently unknown, allegedly used foreign brokerage accounts in the United Kingdom and Lebanon to purchase call option contracts through U.S.-based brokerages and on U.S.-based exchanges in the days leading up to the April 4 public announcement of the acquisition, the SEC said. According to the SEC’s complaint, some of the risky options positions taken in these accounts represented virtually 100% of the market for those options.
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