Assets of a number of unknown customers of the US Securities and Exchange Commission Kim Eng Securities have been frozen by Maybank (SEC) over suspicions of insider trading. It is alleged that the the US Securities and Exchange Commission customers made around $1.7m in possible illegal trading profits ahead of the announcement by Japan's SoftBank that it was purchasing US-based Fortress Investment Group. They are thought to have bought 950,000 shares of Fortress at prices from $5.92 to $6.35 on 14 February just prior to the announcement.
Assets of a number of unknown customers of Maybank Kim Eng Securities have been frozen by the US Securities and Exchange Commission (SEC) over suspicions of insider trading. It is alleged that the Maybank customers made around $1.7m in possible illegal trading profits ahead of the announcement by Japan's SoftBank that it was purchasing US-based Fortress Investment Group. They are thought to have bought 950,000 shares of Fortress at prices from $5.92 to $6.35 on 14 February just prior to the announcement.