A former hedge-fund manager at SAC Capital Advisors whose friend secretly taped him describing how he destroyed evidence of insider trading pleaded guilty Thursday. Donald Longueuil struggled to compose himself as he stood in court before U.S. District Judge Jed Rakoff and apologized for trading on inside information and discarding evidence. "I have learned a lot from my experience and I look forward to applying those lessons as I move forward with my life," Mr. Longueuil said. [WSJ, earlier, earlier]
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="https://dealbreaker.com/uploads/2013/05/saccapitalstamford-260x173.jpg" 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.