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 DALLAS (AP) - Federal regulators charged Friday that unknown investors pocketed more than $5.3 million in illegal profits from insider trading before TXU Corp. announced it had agreed to be sold for $32 billion.
The Securities and Exchange Commission said the insider trading was done through foreign brokerage firms to conceal the investors' identities.
SEC lawyers in Fort Worth filed a lawsuit in federal district court in Chicago seeking restitution and civil fines against unknown defendants who bought options on TXU shares last week. The agency said it won a court order freezing $5.4 million in assets.
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