First the SEC, now the FBI. Warren Buffett’s Berkshire Hathaway fund, which bought Heinz last week for $23 billion, is under a cloud of investigation for suspicious trade deals that were tracked in the lead-up to the purchase.
The Securities and Exchange Commission, in a Feb. 15 release, said it “obtained an emergency court order to freeze assets in a Zurich, Switzerland-based trading account that was used to reap more than $1.7 million from trading in advance of [the] public announcement about the acquisition of H.J. Heinz Company.”
BBC also reports that investigators have not implicated Heinz or its new owners in a crime. The investigation so far is focused on the suspicious trade activity — not on the companies involved in the deal, BBC reports.
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Cheryl Chumley is a continuous news writer for The Washington Times. Previously, she was part of the start-up team for The Washington Times’ digital aggregation product, Times247. She’s also a 2008-2009 Robert Novak journalism fellow with The Phillips Foundation. She can be reached at email@example.com.
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