Donald Longueuil, a former junior portfolio manager at SAC Capital Advisors, agreed to pay $353,000 in order to settle a civil suit filed by the Securities and Exchange Commission. Longueuil was sentenced to 30 months in prison in July after pleading guilty to criminal charges of conspiracy and securities fraud.
The case also included former SAC portfolio manager Noah Freeman; Samir Barai, founder of Barai Capital Management; and Jason Pflaum, an analyst who worked for Barai.
All four men pleaded guilty in a federal investigation targeting insider trading at hedge funds.
The settlement, filed in US District Court in Manhattan yesterday, said Longueuil is cooperating with the SEC’s investigation. The agreement gives Longueuil credit for the larger amount, $1.25 million, that he is required to forfeit to the government as part of the criminal conviction.
Read more: http://www.nypost.com/p/news/business/sac_civil_fine_YKcZDNHyU84HWXC5ZDvPTI#ixzz1XuUQS9L5
No comments:
Post a Comment