Tipster Longoria, Tippee Longueuil To Pay $550K

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.


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