A former Brazilian banker agreed to pay nearly $5.2 million to settle US Securities and Exchange Commission charges of insider trading in Burger King Holdings Inc options before the restaurant chain agreed to a September 2010 buyout.

The SEC said the settlement with the former banker Igor Cornelsen and Bainbridge Group Inc, the firm in which he made his trades, includes a $3.36 million fine, the disgorgement of $1.68 million of illegal profit, and $136,621 of interest. It requires court approval.

Copyright Reuters, 2012