Insider trading in TXU?

Last week, the Securities and Exchange Commission froze more than $5.3 million in accounts at UBS, Credit Suisse and Fimat Banque Frankfurt. There is a suspicion that these funds were generated by some too-good-to-be-believed trading in TXU options that were placed a few days ahead of the deal announcement. The agency said that to crack the case it would need help from overseas partners. It also said a maze of offshore accounts was involved. One trader made $4.7 million by buying 6,700 TXU call options. This one will be hard to nail down. But it does seem like insider trading is once again a big focus.

For more:
- here's an update from the NYT