The Financial Post reports in its Wednesday edition a former European banker who allegedly bought securities in Potash Corp. of Saskatchewan, after learning from inside information of a looming takeover bid, has been indicted for insider trading in the United States. The Post's Claire Brownell writes the U.S. Attorney in New York announced the indictment of Cedric Canas Maillard, a 41-year-old Spanish citizen and former adviser to the chief executive officer of Spain's Banco Santander SA. Mr. Maillard faces insider trading charges for allegedly acting on information about an impending 2010 bid from Australian mining giant BHP Billiton Ltd. for Potash. Following the announcement, Potash shares rose from a closing price of $112.15 prior to the announcement to $143.17 (all figures U.S.). Mr. Maillard sold his equities on the same day the announcement was made, profiting by almost $1-million, the U.S. Department of Justice alleges. Mr. Maillard has been charged with two counts of securities fraud, with each count carrying a maximum sentence of 20 years in prison and a $5,000 fine. In July, Mr. Maillard settled a lawsuit with the U.S. Securities and Exchange Commission based on the same insider trading allegations.