Remember that former SAC Capital manager caught on tape describing how he destroyed, with a pair of pliers, a USB drive containing incrimintating evidence connected with an insider trading case? Ah, yes, Donald Longueuil. Well, D.L. could not stand the heat any longer, today deciding to give up the goods. That is, D.L. plead guilty to insider trading in federal court, meaning he now faces four to five years in the slammer. It also means that, in the SEC's ongoing hunt for white-collar criminals, another inside trader has bit the dust.
Take it away, Freddie ...
(DealBook: Former SAC Manager Pleads Guilty)
(Related: Career Guide to Insider Trading, Chapter 18: To Rat or Not To Rat)