The SEC settled an insider-trading case.
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In the first case brought since stiffer penalties for insider trading were enacted last Aug. 10, the Securities and Exchange Commission won a settlement from two men whom it had charged with illicitly buying 25,000 shares of Monchik-Weber, a computer company, while it was negotiating a takeover with McGraw-Hill. Federico Ablan and Cesar Duque were business associates of a Monchik director. The settlement requires Ablan to give up $138,889 in profits that the two made and pay a civil penalty of $69,737. Both men also agreed to an injunction against securities fraud without admitting or denying the allegations.
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