On February 15th, the U.S. Securities and Exchange Commission (SEC) sued “unknown” traders for “suspicious trading” of Heinz shares just one day before the takeover deal was announced. The trading came from a Goldman Sachs Group Inc. account based out of Zurich, Switzerland, and the traders in question earned a whopping $1.7 million.
The deal, a $23 billion takeover from Warren Buffet’s Berkshire Hathaway Inc. and Brazil’s 3G Capital Inc., is the largest deal ever in the food industry. The account that was used to trade the shares had never been used for Heinz before and the timing and amount of shares traded are highly suspect, says the SEC.
“The FBI is aware of trading anomalies the day before the Heinz announcement,” said Peter Donald, spokesman for the FBI’s New York office. “The FBI is consulting with the SEC to determine if a crime was…
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