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

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR