SAC Vet Gets OK For African Honeymoon After Insider-Trading Sentence

Apr 12 2013 | 10:11am ET

Convicted insider-trader Donald Longueuil really has something to look forward to upon his release from prison at the end of the year.

Not only did the former SAC Capital Advisors portfolio manager's fiancée stick with him, despite his arrest less than three weeks before their planned wedding in 2011 and his subsequent sentence to two-and-a-half-years in prison, but he still has enough money to finance a rather lavish honeymoon.

Longueuil, who was ordered to pay $1.25 million in addition to the prison term, this week won permission from U.S. District Court Judge Jed Rakoff to spend three weeks in Africa for his honeymoon. He and his fiancée, P. Mackenzie Mudgett, will marry on Jan. 25 of next year, just weeks after his scheduled release from an upstate New York prison on Dec. 14. Longueuil required the permission because he will be on supervised release after he gets out of jail.

Longueuil and Mudgett are set to travel to the Seychelles and Tanzania.

Longeuil told Rakoff that he is "a changed person because of this experience" and "eager to embark on my new life."

"My personal history at FCI Otisville Camp has been exemplary," he wrote. "I have zero incident reports, and the administration requested I take the role of Town Driver after my 6-month anniversary. I am also a leader on the grounds crew and in the Christian community."

"Approved," Rakoff scribbled on the letter. "So ordered."

Longueuil also indicated that he would move to Florida after his release, "where my fiancée is already living with her parents." He gave Rakoff a Sarasota address.

Longueuil pleaded guilty two years ago to trading on confidential information he received from Barai Capital Management founder Samir Barai. He also allegedly traded tips with fellow SAC veteran Noah Freeman—at whose wedding he served as best man, and who was set to be a groomsman at Longueuil's cancelled 2011 nuptials—and to destroying evidence after Barai Capital was raided by the Federal Bureau of Investigation in November.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note