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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