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Analyst Who Tipped Off SAC Capital Wins Dismissal of Charges
Federal prosecutors dropped insider-trading charges against a former research analyst who admitted that he passed confidential information to an SAC Capital Advisors LP fund manager.
Sandeep Aggarwal pleaded guilty in November 2013 to securities fraud and agreed to cooperate with the government but hadn’t been sentenced yet. In a court filing made public Friday, prosecutors explained the dismissal by citing changes in the law in recent years that made it more difficult to bring some insider trading cases.
The government also pointed out that Aggarwal faced a lifetime U.S. Securities and Exchange Commission ban on working for any broker, dealer or investment adviser and had agreed to pay a $32,429 fine.
The former Collins Stewart LLC analyst admitted tipping off SAC’s Richard Lee and others about a 2009 search-engine alliance between Yahoo! Inc. and Microsoft Corp. The government’s decision to drop the charges against Aggarwal follows Lee’s successful bid to withdraw his guilty plea last June. The U.S. dropped charges against Lee in November, citing changes in the law. The cases against Aggrarwal and Lee were part of a larger 2013 U.S. showdown with SAC. While founder Steven Cohen himself wasn’t accused of wrongdoing, SAC itself later pleaded guilty and paid a record $1.8 billion fine to resolve insider-trading claims. The firm later changed its name to Point72 Asset Management LP and agreed to manage only Cohen’s money.
“Mr. Aggarwal is very grateful that the U.S. Attorney’s office agreed with his arguments that dismissal of all charges was the right and just result in his case,” said his lawyer, Jeffrey Udell.
The case is U.S. v. Aggarwal, 13-cr-00884, U.S. District Court, Southern District of New York (Manhattan).
https://www.bloomberg.com//news/articles/2020-02-14/analyst-who-tipped-off-sac-capital-wins-dismissal-of-charges
eventually they can use the other things this guy knows-because it is never an isolated incident with these people-and use it against Cohen, the charges get dropped on this guy and he is still co-operating with the Feds.
Cohen was the buyer of the Koon's bunny last year-Robert Mnuchin, an art dealer and the father of the Treasury secretary, had the winning bid on behalf of a client.
baker has exceptional taste
love , no homo, to the memefag who made it
and back to you sir
SAM206 in at JBA from Peterson AFB Colorado
this completes it's roundtrip from earlier today- cap #2
Peterson AFB-home to the North American Aerospace Defense Command (NORAD), the Space Force's 21st Space Wing, elements of the Space Force's Space and Missile Systems Center, and United States Northern Command (USNORTHCOM) headquarters