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

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note