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Feds Charge Two Former SAC Capital Traders, One Of Whom Is A Cooperating Witness, Others With Insider Trading

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The individuals who will have their names mentioned at a noon press conference are hedge fund manager Samir Barai of Barai Capital, Barai Capital analyst Jason Pflaum, former CR Instrinsic (a division of SAC) manager Donald Longueuil (most recently with Empire Capital) and former SAC PM Noah Freeman.

* Barai, who founded Barai Capital in 2008, "is thought to have received illegal tips about publicly traded companies from a technology industry consultant" and surrendered himself

* Pflaum, a tech analyst with Barai since 2008, has already pleaded guilty and is cooperating

* Longueuil, who worked at SAC's CR Intrinsic until last summer, was arrested at his home this morning in Manhattan

* Freeman, who worked for SAC Capital in Boston until January 2010, has pleaded guilty and as a cooperating witness, promised "substantial assistance" to the Feds

US Unseals Insider Trading Charges [WSJ]
Hedge Fund Managers Face Insider Trading Charges [Dealbook]


Before They Were Wearing Wires And Trying To Get Each Other To Make Incriminating Statements Re: Securities Fraud, SAC Capital Employees Were Using Threesomes As A Front For Insider Trading

src="" alt="" title="saccapitalstamford" width="260" height="173" class="alignright size-medium wp-image-102764" />Remember Noah Freeman and Donald Longueuil? Former SAC Capital portfolio managers and best buds, fired from SAC for performance and later confronted by the Feds, who divided and conquered the duo by convincing Freeman to record his conversations with Longueuil, which didn't come of much until Noah got Don to give a step-by-step guide to destroying evidence of wrongdoing? Longueuil is set to be released from prison in December and Freeman, who once ran around San Francisco in his underwear while tripping on 'shrooms and shouting "I said buy, motherfucker" at no in particular, is awaiting sentencing. But before they put all this behind them and move on with their lives (Don is taking a three-week honeymoon in January; Noah has hundreds more cities to traipse through half-naked), how about one last trip down memory lane? This one is courtesy of Vanity Fair from a larger article about D&N's boss, and involves the kind of cover for their illegal activities that'd make Ping Jiang curse the fact that their time at SAC didn't overlap.