Bangkok Trader’s Assets Frozen in Insider Case

Bangkok Trader’s Assets Frozen in Insider Case –, June 6, 2013
…–SEC freezes assets of Badin Rungruangnavarat
–SEC says Mr. Badin profited more than $3 million ahead of Smithfield acquisition news
–Mr. Badin is 30-year-old resident of Bangkok…

Facebook Connection Leads To SEC Freezing $3 Million In Insider-Trading Profits – Forbes, June 6, 2013
…While details remain scarce, the Commission alleged in its Complaint that Rungruangnavarat may have been tipped off by a Facebook friend who formerly worked with Rungruangnavarat and is presently employed at a Thailand investment bank that participated in the bidding process…

Facebook friend may have tipped trader to $4.7 billion Smithfield deal, SEC alleges –, June 6, 2013
…By at least May 15, 2013, according to the complaint, the Thai investment bank advising Charoen was given access to Smithfield’s electronic data room and confidential financial information.
The complaint goes on to say that Rungruangnavarat submitted an application to open a brokerage account with Interactive Brokers on May 10, 2013. Three days later, the account was approved for trading. The only trades he would make in the account were purchases of Smithfield calls, futures, and common stock.
However, these allegations remain unproven until such times as they are tested in a court of law…

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