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SAC Capital Advisors to pay record $1.8 billion in insider trading settlement
SAC Capital Advisors headquarters in Stamford, Conn. (Spencer Platt/Getty Images)Hedge fund giant SAC Capital Advisors has agreed to plead guilty to fraud charges and to pay a $1.8 billion financial penalty, federal prosecutors said Monday.The government said in a letter to judges presiding over the Manhattan case that it believed the financial penalty is the largest in history for insider trading offenses.The company will pay a $900 million fine and forfeit another $900 million to the federal government. It also …
