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SEC charges two with insider trading involving Potash bid

Regulator alleges Spanish duo pocketed $1.1m in illegal profits

The Securities and Exchange Commission charged two Spanish men on Tuesday with insider trading, alleging they made nearly $1.1m in illegal profits by trading in advance of last week's offer from BHP Billiton to acquire Potash of Saskatchewan.

The agency also said it obtained an emergency court order to freeze the assets of Juan Jose Fernandez Garcia and Luis Martin Caro Sanchez.

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