SAC Capital to Plead Guilty, Pay $1.8B Fine

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Nov. 4 (Bloomberg) -- Southern District of New York U.S. District Attorney Preet Bharara announces the agreement with SAC Capital Advisors to plead guilty to insider trading. (Source: Bloomberg)

That is matching in its magnitude.

All of the charged sac companies have agreed to plead guilty.

All agreed to wind down and close their businesses and all have agreed to pay total fines and penalties in the record amount of $1.8 billion.

If approved, this would result two cases brought by the government in july, both the criminal indictment and the separate civil forfeiture and money laundering aspect as well.

Both agreements were sent to the district court judges presiding over the cases for their review and approval.

The plea agreement announced today is solely between this office and the sac companies and involves no individuals.

It does not include please of guilt by any individuals, nor does it provide any criminal protection or immunity or any individuals going forward.

Let me also stretch that -- let me also stress individuals awaiting trial are presumed to be innocent and the plea agreement announced today does not affect that presumption in any way.

Before i discuss the agreement in more detail, let me introduce our partners in this investigation and prosecution.

I am joined, as i am so often in

This text has been automatically generated. It may not be 100% accurate.

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