$1.2B SAC Deal Shows NY Prosecutor At The Top Of His Game
Law360, New York (November 4, 2013, 8:06 PM EST) -- The record $1.2 billion plea deal announced Monday between the government and SAC Capital Advisors for insider trading not only has Wall Street nervous, but experts say it has cemented Manhattan U.S. Attorney Preet Bharara’s place as a capable and feared prosecutor who isn't afraid to go after the big fish.
The landmark plea agreement, in which SAC and multiple subsidiaries are admitting to every count in Bharara’s July indictment, not only brings the penalties levied on SAC to $1.8 billion but also spells the end of Stamford, Conn.-based SAC’s investment advisory business, meaning it no longer can manage outside money....
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