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

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…