• 10 Apr 2014 at 12:50 PM

Judge Shows Mercy On SAC Capital

$1.8 billion fine and not a penny more, probably.

SAC Capital Advisors LP’s landmark settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider trading cases. The judge is still discussing the terms of the agreement, which calls for a combined penalty of $1.8 billion, with the lawyers in Manhattan federal court… The plea deal ends both the prosecution and money-laundering lawsuit brought by the office of Manhattan U.S. Attorney Preet Bharara. The agreement includes a $900 million fine to end the criminal case, as well as a separate $900 million judgment the hedge fund agreed to pay to end the suit. Within that judgment is $616 million Cohen agreed to pay the SEC to settle a separate lawsuit filed last year. As part of the plea deal, the firm agreed to manage money mainly for Cohen alone.

SAC Judge Approves Record Insider-Trading Accord With U.S [Bloomberg]

12 comments (hidden to protect delicate sensibilities)
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Comments (12)

  1. Posted by KingCo | April 10, 2014 at 1:23 PM

    Shazar's new job is:

    A) Intern, John Doe Fund Times Square
    B) House Troll, Gawker Media
    C) Fluffer 2nd Class, Vivid Entertainment
    D) Registered Representative, John Thomas Financial

  2. Posted by Blew up | April 10, 2014 at 1:35 PM

    AUM there, as well as his personal fortune, ( one and the same ? ) must be drastically reduced at this point.

    If this is now a 5-10 bil fund without the old edge it begins to lose some salience for many of us.

    Sartorial choices excepted of course.

  3. Posted by A Fan | April 10, 2014 at 1:42 PM

    His coke can sized cock must be glorious.

  4. Posted by Annual | April 10, 2014 at 1:44 PM

    Mods are being raging goth homos today. Bess, you are too smart and hot to work around these breaking media mouth breathers that wear skinny jeans cause the got no sacks.

  5. Posted by Quant me maybe ... | April 10, 2014 at 1:57 PM

    That's an awful lot of pickled fish!

  6. Posted by hooaaaaaa | April 10, 2014 at 2:01 PM

    Fashion Faux Pas, baby blue on baby blue dear heavens!!!! Shove it back in the womb!!!!

    Tim Gunn- Fashion Analyst

    Project Alpha Partners

  7. Posted by Geez | April 10, 2014 at 2:05 PM

    He won't be allowed to manage outside money anyway, numbnuts.

  8. Posted by Marketeer | April 10, 2014 at 2:14 PM

    The cashmere zip sweater, now available in "Point72 Blue"

  9. Posted by Guest | April 10, 2014 at 2:34 PM

    Now we know how much it costs to stay out of jail, Raj Gupta I hope you've learned something from this..

  10. Posted by Guest | April 10, 2014 at 2:45 PM

    Every time I enter a search for "Point72" on google I get an auto-fill of "and Lindsay Lohan DUI"

  11. Posted by Guest | April 10, 2014 at 3:36 PM

    $1.8 billion = the price of wearing baby blue instead of orange

  12. Posted by Inigo | April 11, 2014 at 1:46 AM

    "You keep writing about that hedge fund. I don't think it's as interesting as you think it is."