Rabbi Gets 4 Years For $4M SAC Capital Extortion Plot

Law360, New York (February 18, 2011, 5:17 PM EST) -- A federal judge on Friday sentenced a rabbi to four years in prison for blackmailing SAC Capital Advisors for $4 million by claiming to be a spiritual adviser to an inmate with details about insider trading by the hedge fund’s founder.

Judge Denise L. Cote of the the U.S. District Court for the Southern District of New York handed down the sentence to Rabbi Milton Balkany, 64, and ordered that he be immediately turned over to federal custody.

“When you extort money from others, when you...
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