News Archive

People gather around a television in the lobby of the Washington state Supreme Court to watch oral arguments in a case against Backpage.com, on Tuesday, Oct. 21, 2014, in Olympia, Wash. The court heard a case filed by three sex trafficking victims who say the website helps promote the exploitation of children. (AP Photo/Rachel La Corte)
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Website asks high court to throw out lawsuit

This undated file photo provided by the Williams County, N.D., Sheriff's Department shows Michael Keith Spell. A plea agreement with prosecutors filed Tuesday, Oct. 21, 2014, calls for a 100-year sentence for Spell, 25, on a charge of deliberate homicide for the 2012 death of Sherry Arnold. A charge of attempted kidnapping would be dropped. (AP Photo/Williams County, N.D., Sheriff's Department, File)
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Judge to hear plea deal in oil patch killing

In this Aug. 1, 2014 file photo, one of the two girls accused of stabbing another girl is led into the courtroom during court proceedings at Waukesha County Court in Waukesha, Mich. A Wisconsin judge is deciding whether one of two 12-year-old girls accused of stabbing a classmate to please a fictional online horror character is mentally fit to stand trial. (AP Photo/Milwaukee Journal-Sentinel, Michael Sears, Pool, file)
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Judge reviews mental state of stabbing suspect, 12

Clare Bradburn gives an impact statement after her ex-husband Ed Graf pled guilty to the murder of their two sons following his retrial, Tuesday, Oct. 21, 2014, in Waco, Texas. (AP Photo/Waco Tribune Herald, Jerry Larson)
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Texas man admits setting 1986 fire, killing 2 boys

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Washington Supreme Court to hear Backpage.com case

Megan Huntsman, accused of killing six of her newborn babies and storing their bodies in her garage, appears in court Monday, Oct. 20, 2014, in Provo, Utah. Huntsman made a brief court appearance as attorneys set Dec. 11 for a hearing where a judge will hear a review of the evidence. (AP Photo/Rick Bowmer, Pool)
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Mom accused of killing 6 babies appears in court

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Brother of former NFL player enters plea agreement

This undated file photo provided by the Allegheny County District Attorney shows University of Pittsburgh medical researcher Dr. Robert Ferrante. Jury selection is set to begin for the start of his trial Oct. 21, 2014, in Pittsburgh on charges in the cyanide poisoning death of his neurologist wife, Autumn Klein, chief of women's neurology at the University of Pittsburgh Medical Center. Klein died in April of 2013 after suddenly falling ill. (AP Photo/Allegheny County District Attorney, File)
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Cyanide homicide trial likely battle of experts

This Jan. 23, 2014, file photo shows New Jersey Gov. Chris Christie addressing a gathering at the Dudley Family School in Camden, N.J. Lawyers for a state legislative panel investigating a political payback scandal say a former aide to Gov. Christie has shown no valid legal reasons for refusing to comply with a subpoena. (AP Photo/Mel Evans, File)
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Law allowing sports betting signed by Christie

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Attorney sentenced to jail in drug-framing scheme

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Arizona joins other states in allowing gay unions

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Man brags he killed Chinese California students

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Groups appeal for release of license plate scans

NEW YORK (AP) — U.S. federal prosecutors have charged two Brazilian nationals with insider trading in connection with 3G Capital's $3.26 billion acquisition of Burger King in 2010.

The complaint announced Monday alleges that Waldyr Prado, a 43-year-old former Wells Fargo financial adviser, and one of his brokerage clients, Igor Cornelsen, illegally profited from insider information about the Burger King deal after Prado learned about it from another client who had invested in private-equity firm 3G.

Prado and Cornelsen, a 65-year-old director of an investment company based in the British Virgin Islands, live in Brazil and have not yet been arrested, according to the office of Preet Bharara, U.S. Attorney for the Southern District of New York, and the Federal Bureau of Investigation. Bharara's office did not immediately know what the next step would be in the proceedings. Prado left the U.S. for Brazil in 2012 after being deposed in a lawsuit brought against both men by the Securities and Exchange Commission, telling his U.S.-based supervisor that he feared he would be charged with perjury and that Brazil has no "extradition policy."

According to the criminal complaint unsealed Monday, one of Prado's clients invested in 3G Capital and in March 2010 was told by that company that it was in talks to buy Burger King. The investor signed a confidentiality agreement with 3G related to the deal, but was allowed to discuss its merits with Prado based on his role as financial adviser. But Prado "misappropriated" the information and purchased Burger King stock and options, say prosecutors.

The complaint states that Prado emailed Cornelsen in May 2010 revealing that he had "some info that I cannot say over the phone...You have to hear this." From May through August, Cornelsen purchased Burger King options. After 3G's September 2010 announcement that it planned to buy Miami-based Burger King, Prado and Cornelsen sold their holdings in the fast-food chain for profits of more than $175,000 and about $1.68 million, respectively.

The two are charged with securities fraud and fraud in connection with a tender offer, which each carry a maximum term of 20 years in prison. They are also charged with conspiracy to commit securities fraud and fraud in connection with a tender offer, which carries a maximum term of five years in prison.

Messages left with Cornelsen's attorney Monday evening weren't immediately returned. Prado couldn't immediately be reached for comment, and it is unclear if he is currently represented by counsel.
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Judge: Ex-soldier should pay fees to Burger King

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Authorities: Woman jumped with kids, killing 1

In this image taken from video, Rev. Juan McFarland listens to testimony during in a court hearing about the future of Shiloh Missionary Baptist Church in Montgomery, Ala., on Thursday, Oct. 16, 2014. McFarland, who members say admitted to adultery and drug use from the pulpit, is fighting an attempt to remove him from the pastorate. (AP Photo/Jay Reeves)
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Pastor accused of affairs temporarily banned

In this Nov. 4, 2008, file photo, U.S. Rep. Jeff Flake, R-Ariz., appears next to his son Austin at an election night rally in Phoenix. U.S. Sen. Jeff Flake's son Austin is one of four people indicted on cruelty to animal charges after 21 dogs died at a Gilbert, Ariz., kennel in June, prosecutors said Wednesday, Oct. 15, 2014. (AP Photo/Ross D. Franklin, File)
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US senator’s son among 4 indicted in dogs’ deaths

This photo provided by the Michigan Department of Corrections shows Leon Means. Means was charged Wednesday, Oct. 15, 2014, with killing four women in western Michigan — two this week and his wife and her mother after a prison escape in 1989. (AP Photo/Michigan Department of Corrections)
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Man charged with 4 murders in western Michigan

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Man charged with Boston Common stabbing held

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Psychic pleads guilty in duping of timber heir

In this April 24, 2012 file photo, former Arizona state Sen. Russell Pearce, the architect of Arizona's controversial immigration law S.B. 1070, testifies on Capitol Hill in Washington before the Senate Immigration, Refugees and Border Security subcommittee. An 11-member panel of the 9th U.S. Circuit Court of Appeals ruled Wednesday, Oct. 15, 2014, that S.B. 1070 violates due-process rights by imposing punishment before trial. Pearce proposed the no-bail law and went on to win approval for Arizona's landmark 2010 immigration enforcement law. (AP Photo/J. Scott Applewhite, File)
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Courts reject another Arizona immigration law

This undated booking photo provided by the Santa Barbara County Sheriff's Office shows Nicolas Holzer. Santa Barbara County prosecutors announced Tuesday Oct. 14, 2014 that a grand jury indicted 45-year-old Nicolas Holzer on felony charges that include special allegations. Prosecutors haven’t decided whether to seek the death penalty. Holzer remains jailed without bail. (AP Photo/Santa Barbara County Sheriff's Office)
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Man Charged in Killings of 4 Family Members, Dog

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