Wednesday, 24 August 2016
Last updated 7 hours ago
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.