SAC Capital Advisors LP, the hedge fund that agreed to plead guilty and pay a record $1.8 billion, changed a press statement after it was told it could be violating the terms of its plea agreement, a person familiar with the matter said.
SAC Capital Advisors LP will plead guilty to securities fraud as soon as today, the biggest hedge- fund firm to resolve charges in the U.S. government’s six-year crackdown on insider trading, according to a person familiar with the matter.
SAC Capital Advisors LP will plead guilty to securities fraud, CNBC reported, resolving an indictment filed earlier this year in Manhattan federal court that was the culmination of a U.S. insider trading crackdown spanning the past six years.
JPMorgan Chase & Co., under siege on multiple fronts by state and federal prosecutors investigating alleged wrongdoing at the largest U.S. bank, is in talks with federal prosecutors in New York to resolve allegations it helped facilitate Bernard Madoff’s crimes.
David Slaine had a secret for the FBI that summer day, one of scores he would eventually reveal in his role as a dream informant. The subject was Teterboro Airport. Slaine claimed a money manager he knew was using it to profit quietly on trades of health-care stocks.
Julien Grout, a former JPMorgan Chase & Co. trader charged with trying to hide the bank’s record trading loss last year, is arguing to prosecutors that he was following orders from his then-boss, Bruno Iksil, people with knowledge of the matter said.
Raj Rajaratnam, the Galleon Group LLC hedge fund manager sentenced to 11 years in prison for masterminding an insider-trading scheme, made inaccurate statements about the federal investigation in an interview published in Newsweek magazine, U.S. officials said.