SAC Capital Pleads Guilty In Criminal Court

wochit business
November 08, 2013 AT 12:11 PM
Steven A. Cohen's SAC Capital Advisors hedge fund pleaded guilty to fraud charges Friday in a U.S. District court in Manhattan as part of a $1.2 billion deal to resolve a long-running insider trading investigation. SAC general counsel Peter Nussbaum entered the guilty plea to four counts of securities and one count of wire fraud charges, a crucial step toward ratification of the fund's record insider trading accord.