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

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.