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$5.2 Million Settlement with Thailand-Based Trader in Insider Trading Case
SEC v. Badin Rungruangnavarat
- 2013
- $5.2 million
The SEC froze the assets of and then reached a $5.2 million settlement with a Bangkok, Thailand trader who allegedly received inside information about a proposed acquisition of Smithfield Foods by a firm in China and, in advance of public announcement, bought thousands of out-of-the-money call options and single-stock futures, as well as Smithfiled stock. The suspiciously well-timed trades yielded unrealized gains of over $3.2 million.
