Wednesday, 3 June 2015
Last updated 2 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…