'Not Guilty' SAC Capital Would Love To Get In A Room With The Motormouth Felons They Used To Call Colleagues And Friends

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Steven Cohen's hedge fund, SAC Capital Advisors, pleaded not guilty to insider trading charges in federal court on Friday. The firm's general counsel, Peter Nussbaum, flanked by five high-powered defense lawyers, entered the plea before U.S. District Judge Laura Taylor Swain in New York. U.S. prosecutors unsealed an indictment against the firm on Thursday, charging SAC Capital with presiding over a culture that encouraged traders to tap personal networks of contacts for inside information about publicly traded companies...Ted Wells, a lawyer representing SAC Capital, said he was "most concerned" with obtaining statements that former employees of the $14 billion hedge fund have provided the government. [Reuters]

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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.