Ex Hedge Fund SAC Trader Gets Court Permission for Honeymoon

Former hedge fund SAC Capital trader Donald Longueuil gets court permission for African Honeymoon.sac

Hedge fund trader Donald Longueuil is serving 2.5 years for pleading guilty to insider trading while he worked at hedge fund SAC capital.

The former employee of the hedge fund SAC Capital Advisors, has big for plans when he gets out of prison.
In a letter made public on Tuesday in Federal District Court for the Southern District of New York, Mr. Longueuil, a former New Yorker, said that on his release this December, he was relocating to Florida, getting married in January and taking a three-week honeymoon to Africa.

His prison sentence will be over by then, he will be on supervised released under the jurisdiction of the Florida probation office.
Judge Rakoff, who presided over Mr. Longueuil’s case, approved the request.
Donald  Longueuil is one of the four former SAC employees who pleaded guilty to insider trading while at the firm, but is the only one in prison, serving two and a half years in a facility in Otisville, N.Y. Mr. Longueuil’s case was among the more colorful to emerge from the long-running insider trading investigation of SAC.
Samir Barai (founder and PM at Barai Capital)
Donald Longueuil (former employee of CR Intrinsic, a division of SAC Capital)
Jason Pflaum (former Barai Capital analyst)
Noah Freeman (a former PM at SAC Capital’s Boston office)
A former competitive speed skater, Mr. Longueuil joined SAC and worked closely with Noah Freeman, a longtime friend. Mr. Longueuil served as the best man at Mr. Freeman’s 2009 wedding, and Mr. Freeman was planning to be a groomsman in Mr. Longueuil’s wedding in February 2011 to P. Mackenzie Mudgett, a former rower at Princeton University.
But Donald Longueuil’s wedding never happened. Nineteen days before his nuptials, federal agents charged him, Mr. Freeman, and two others with trading on secret information about technology companies that he obtained from so-called expert-network firms that connected him to inside sources at the companies.
Unknown to Mr. Longueuil, Mr. Freeman was a government informant. Mr. Freeman secretly recorded his friend describing a brazen coverup that involved Mr. Longueuil destroying computer hard drives with pliers and dumping them into random garbage trucks in Manhattan in the middle of the night. Mr. Longueuil was also charged with obstruction of justice, but that count was dropped as part of his plea deal.

SAC fired Donald Longueuil in 2010.

 

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