US prosecutor: Hedge fund giant SAC Capital to plead guilty to fraud in NYC, pay $1.8 billion

  • Article by: LARRY NEUMEISTER , Associated Press
  • Updated: November 4, 2013 - 6:51 PM

NEW YORK — SAC Capital Advisors will plead guilty to criminal fraud charges, stop investing money for others and pay $1.8 billion — the largest financial penalty in history for insider trading — to resolve criminal and civil claims against the hedge fund giant, the government announced Monday.

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nativesonzzNov. 4, 1312:25 PM

The company steals billions...receives a 6.6% fine of total assets...no one goes to jail. Company sells out. Hedge Fund managers move onto Morgan Stanley...nothing to see here, unless they do follow up and charge some individuals criminally.

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