Brazilian Pair Settle In Insider-Trading Scheme

Law360, New York (February 22, 2007, 12:00 AM EST) -- A high-ranking Brazilian executive at Sadia SA and an investment banker have agreed to fork over nearly $500,000 in fines to settle charges that they traded on inside information regarding the chicken and pork producer’s plan to acquire its biggest local rival, Perdigão.

On Thursday, the U.S. Securities & Exchange Commission revealed that Sadia’s former chief financial officer and a former employee of Banco ABN shelled out hundreds of thousands of dollars to put to rest accusations of an insider-trading scheme.

Luiz Gonzaga Murat Junior, once...
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