(Updates throughout with additional context, background.)

The Securities and Exchange Commission said Wednesday it charged an employee of Perot Systems Corp. (PER) with insider trading related to Dell Inc.'s (DELL) proposed $3.9 billion acquisition of the IT services company.

The SEC charged Richardson, Texas, resident Reza Saleh with making $8.6 million in illicit profits after selling call option contracts he had built up using non-public information on the deal. Saleh allegedly learned the information about the deal earlier this month through his employment at Parkcentral Capital Management LP and Perot Systems. Parkcentral Capital has since placed Saleh on administrative leave.

The SEC said it was seeking a court order to freeze Saleh's assets.

The options market played host to rampant trading in Perot days before the deal was announced, suggesting some traders might have anticipated the news. Starting Sept. 9 and continuing through Monday, traders bought and sold far more options in Perot Systems than they historically have. And the bulk of the activity appeared to be bullish, with traders preparing for Perot's stock to move higher.

According to the SEC's complaint, Saleh purchased 9,332 Perot Systems call options contracts through two brokerage accounts between Sept. 4 and Sept. 18. The call option contracts were set to expire in October and January. Saleh sold all of the call options following the merger announcement as Perot Systems' stock jumped about 65%, the SEC alleges.

The SEC complaint also said Saleh "acknowledged that his purchases of Perot Systems call options were based on his knowledge of the impending transaction."

The complaint also names Amir Saleh, also of Richardson, as a relief defendant, to recover trading profits he allegedly received as a co-account holder on one of Reza Saleh's brokerage accounts.

A spokesman for Perot Systems spokesman was unavailable for immediate comment. Efforts to receive contact information for Saleh through the SEC were unsuccessful.

-By John Kell and Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

(Tennille Tracy contributed to this article.)