Tuesday, 31 May 2016
Last updated 24 min ago
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.