Friday, 27 November 2015
Last updated 17 min ago
Nov 17 2011 | 12:15pm ET
Two of the men netted in the U.S. Justice Department's crackdown on expert-networks were ordered to pay more than $550,000 to bring the Securities and Exchange Commission's civil cases against them to an end.
Donald Longueuil, the former SAC Capital Advisors trader perhaps best-known for his late-night jog through the streets of New York to dispose of evidence against him, was ordered to pay $352,832.60, while Mark Longoria, an executive at Advanced Micro Devices who moonlighted at expert-network Primary Global Research, selling confidential information to hedge fund managers, was ordered to pay $197,178.94. Both sums are purely disgorgements and prejudgment interest; the SEC, on account of their cooperation, did not pursue civil fines.
But Longueuil has been barred from the financial services industry and Longoria from serving as an officer or director of a public company.
Both men have pleaded guilty to criminal charges. Longueuil was sentenced to two-and-a-half years in prison, while Longoria is awaiting sentencing.
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…