PIGGISH PROFIT: A Thai plastics company employee made $3.2 million by trading on inside knowledge that a takeover offer for Smithfield Foods was imminent, according to U.S. regulators.
COLD CUT: A U.S. court has frozen the American brokerage account of Badin Rungruangnavarat so the trading profits can’t be transferred overseas. The SEC alleges that he cornered the market in Smithfield options and futures in the days before Smithfield’s $4.7 billion takeover by a Chinese meat company.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.