Hedge Fund SAC Fined Record $1.8B For Insider Trading
The US Attorney’s office announced giant hedge fund SAC Capital has agreed to plead guilty to criminal charges of insider trading and pay $1.8 billion to settle them. It was the largest-ever insider trading fine, the government said, and will force SAC, once a Wall Street hedge fund powerhouse run by multi-billionaire Steven A. Cohen, out of the investment advisory business permanently.
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