Longueuil, Ex-SAC Trader, Settles SEC Insider-Trading Charges

Sep 14 2011 | 1:12pm ET

Former SAC Capital Advisors Donald Longueuil has struck a deal with the Securities and Exchange Commission.

Longueuil agreed to pay $353,000 to settle the regulator's civil insider-trading charges. Longueuil was sentenced to two-and-a-half years in prison in July after pleading guilty in the U.S. Justice Department's expert-networking crackdown.

Longueuil's deal with the SEC gives him credit for the $1.25 million he was ordered to forfeit as part of the criminal case.

In April, Longueuil admitted that he traded on confidential information he received from Barai Capital Management founder Samir Barai. Longueuil also allegedly traded tips with fellow SAC veteran Noah Freeman, and to destroying evidence after Barai Captial was raided by the Federal Bureau of Investigation in November.

Both Barai and Freeman have also pleaded guilty in the case.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note