Securities Fraud Case: SAC Capital Advisors

SAC Capital Advisors LP, a hedge fund based in Stamford, Connecticut faces $1.8 billion in fines as part of a plea deal it made with federal prosecutors in a securities fraud case. The hedge fund was indicted earlier in July of this year as part of a six-year U.S. investigation into insider trader. The indictment included four counts of securities fraud and one count of wire fraud and included a statement that its "unlawful conduct resulted in insider trading that was substantial."

The group was accused of a conspiracy starting in 1999 in which it made hundreds of millions of dollars with insider-trading activity. A criminal investigation into its activities was conducted by the U.S. Attorney's Office in Manhattan which led to the plea deal. The total fines are a combination of $1.2 billion added to a previous $600 million that the company agreed to pay the Securities and Exchange Commission earlier.

In a related case, a man who worked as a research analyst at another firm admitted to giving insider information to a money manager at SAC. The tipper stated that he did so to increase his standing as an analyst and to help his firm make money. He was charged with conspiracy and securities fraud and faces sentencing which could include a prison term of up to 25 years as well as deportation to his native country, which is India.

Litigation Attorney in Chicago, Illinois

The above story is an example of a securities law case. Securities law deals with the transactions and regulations involving securities, such as notes, stocks, bonds, certificates of deposits, and other investments. The laws concerning these types of securities have been put into place to protect investors by ensuring that they have accurate information about what they are purchasing and its value.

If you have a legal issue related to securities, the Law Offices of R. Tamara de Silva provides competent representation in all areas of this field, including transactional work, regulatory work, and litigation. Ms. De Silva has an extensive background in financial services, which includes working as a brokerage executive and floor trader. She provides legal assistance for defendants and plaintiffs, individuals and corporations, in all types of securities cases across the nation, no matter how complex. Fill out a free case evaluation form on her website or contact the firm to arrange for a consultation about your legal issue today.