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'Extraordinary' Cooperation Allows SAC Capital Defendant to Avoid Prison

Bruce Carton | February 6, 2015

Yesterday, U.S. District Judge Jed Rakoff sentenced admitted insider trader Noah Freeman to no time in prison due to his "extraordinary" cooperation with prosecutors. Freeman pleaded guilty to conspiracy and securities fraud charges related to an insider trading ring in 2011. Judge Rakoff further ordered Freeman to forfeit $181,000.

Freeman, a former SAC Capital Advisors LP portfolio manager, is one of eight SAC Capital employees federal prosecutors in Manhattan charged with insider trading who either pleaded guilty or were convicted at trial. Freeman's cooperation helped prosecutors secure convictions of defendants including Winifred Jiau, a former Primary Global Research consultant, and Donald Longueuil, a fellow SAC Capital portfolio manager who was the...

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