SAC Capital Advisors will plead guilty to criminal fraud charges, stop investing money for others and pay $1.8 billion—the largest financial penalty in history for insider trading—to resolve criminal and civil claims against the hedge fund giant, the government announced Monday.
The government said in a letter to judges presiding over Manhattan cases that the “proposed global resolution” of the criminal and civil cases against SAC Capital Advisors and related companies also includes an agreement that SAC will cease operating as an investment adviser and will not accept any additional funds from third-party investors.
