date:Jan 15, 2014
A former Wells Fargo Co broker in Miami has been ordered to pay $5.63 million for trading Burger King securities ahead of a 2010 buyout of the fast-food chain based on inside information he received from a client.
But the judgment, announced Tuesday by the U.S. Securities and Exchange Commission against former broker Waldyr Da Silva Prado Neto, may be largely uncollectible because the defendant is believed to have fled to Brazil, has not mounted a defense, and has ignored SEC efforts to reach