SAC hedge fund manager admits insider trading

Taking the stand at a trial where federal prosecutors are seeking the conviction of a technology consultant for the same offense, a former manager at SAC Capital Advisors admitted himself to insider trading.

Noah Freeman was testifying at the trial of Winifred Jiau, a 43-year-old former employee of Primary Global Research LLC. Jiau is accused of leaking confidential tips. As part of his testimony, Freeman said that numerous people he worked with during his June 2008 to January 2010 stint at SAC participated in criminal conduct.

SAC Capital Advisors is the hedge fund of billionaire investor Steven Cohen.

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