The insider-trading scandal that has engulfed several hedge funds is getting perilously close to one of the biggest names in the hedge fund industry: SAC Capital Advisors.

Choo Beng Lee, who is cooperating with authorities, has pleaded guilty to insider-trading charges in the case that has ensnared Galleon Group founder Raj Rajaratnam and 19 others. According to his cooperation agreement, Lee acknowledged that his illicit trading has been going on since 1994, including while he was working at SAC, Reuters reports. No one at the Stamford, Conn.-based hedge fund, nor SAC itself, have been accused of any wrongdoing. Lee left SAC in 2004.

Ali Far, the former Galleon analyst who founded Spherix Capital in 2007 along with Lee, has also pleaded guilty as part of his cooperation agreement. It was the closing of Spherix, which had enjoyed a good deal of success, earlier this year that led Rajaratnam and Danielle Chiesi, a former consultant to hedge fund New Castle Partners, to suspect that the two men were cooperating in the investigation. Rajaratnam had been an investor in their fund.

Lee pleaded guilty to one count apiece of securities fraud and conspiracy to commit securities fraud. The two charges carry up to 25 years in prison. As part of the agreement, Lee has agreed to pay restitution.