Ex-SAC Manager Longueuil, Jiau Plead Not Guilty

Mar 10 2011 | 12:09pm ET

Two of the defendants in the Justice Department's massive insider-trading probe have pleaded not guilty to expanded charges.

Former SAC Capital Advisors portfolio manager Donald Longueuil and former Primary Global Research consultant Winifred Jiau entered the new pleas yesterday in Manhattan federal court. Jiau had pleaded not guilty to the earlier indictment last month.

The new lists of charges against the two were unsealed yesterday. Jiau is accused of passing confidential information on to Noah Freeman, another former SAC manager, and to an unidentified hedge fund manager, believed to be Barai Capital Management's Samir Barai. Longueuil is also accused of passing information to Freeman, who has pleaded guilty and is cooperating with prosecutors, in exchange for tips from Freeman, including those he received from Jiau.

Barai has also been charged in the case.

Jiau, whose lawyer proclaimed her innocence after the plea hearing, remains jailed after a judge revoked her bail. Prosecutors had presented evidence that Jiau, a dual U.S.-Taiwanese citizen, had planned to flee the country.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of