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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...