SEC Freezes Assets of Two Brokerage Accounts in Suspected Insider Trading

[kreslik.news]

The U.S. Securities and Exchange Commission (SEC) has charged two unknown investors, who used brokerage accounts in the United Kingdom and Lebanon, with illegally profiting from Liberty Interactive’s $1.2 billion acquisition last week of Anchorage-based telecoms firm General Communication Inc (GCI).

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The regulator on Friday filed an emergency court order to freeze assets of brokerage accounts used in the alleged insider trading scheme led by two unknown traders, and possibly other defendants, who allegedly made $1 million in profits by illegally trading GCI shares.

The SEC lawsuit said during the ... (read more)