Canadian Investor Garnered $3M In Dirty Trades: SEC
By Catherine Fredenburgh
Law360, New York (January 30, 2006, 12:00 AM EST) -- A Canadian investor accused of trading on insider information about a proposed merger between two mining giants isn’t shielded from prosecution by U.S. regulators just because he isn’t a U.S. citizen, the U.S. Securities and Exchange Commission argued in court papers filed last week.
In papers filed in a New York district court last week, the SEC opposed Toronto resident John Fraleigh’s motion to have his case dismissed for lack of personal jurisdiction. The SEC said it has the legal right to move forward in its...