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]

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12 Responses to “Judge Shows Mercy On SAC Capital”

  1. KingCo says:

    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. Blew up says:

    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. A Fan says:

    His coke can sized cock must be glorious.

  4. Quant me maybe ... says:

    That's an awful lot of pickled fish!

  5. hooaaaaaa says:

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

    Tim Gunn- Fashion Analyst

    Project Alpha Partners

  6. Marketeer says:

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

  7. Guest says:

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

  8. Guest says:

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

  9. Inigo says:

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