Brazil Men Face Criminal Suit Over Burger King Insider Trading

Law360, New York (January 27, 2014, 8:19 PM EST) -- Two Brazilian nationals are facing criminal allegations that they conspired to profit off of illicit insider trades they allegedly made ahead of Burger King’s September 2010 acquisition by private equity firm 3G Capital Partners, according to a complaint unsealed Monday in New York federal court.

Waldyr Prado, 43, a former financial adviser, and Igor Cornelsen, 65, who owns and operates the investment firm Bainbridge Group Inc., made a total profit of some $1.6 million through the insider trades, according to the criminal complaint, which was first...
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