Donal Longueuil, a former SAC Capital portfolio manager, was sentenced last Friday to two and a half years in prison. Longueuil pleaded guilty to charges of securities fraud in April.  Longueuil's arrest likely added to the pressure applied by federal investigators against Stephen A. Cohen, and SAC Capital, his large successful hedge fund company.  Investigators have found no evidence to indicate that Mr. Cohen or SAC Capital engaged in insider trading.

Longueuil was caught in the latest federal government crackdown on insider trading in Wall Street.  This time around, the feds were focused on "expert networks," which the NYTimes describes as being matchmakers who connect "hedge fund managers with industry executives who offer insights about their businesses."

Longueuil is one of around a dozen people who were connected to the case in question, which focused on people in expert networks who leaked corporate secrets.  Longueuil admitted to accepting insider info regarding a half-dozen companies from people he met through expert networks. His illicit trades allegedly took place from 2006 to 2010.  As noted above, SAC hasn't been implicated in the case and had previously fired Longueuil for breaking its compliance rules as well as for poor performance.   [Dealbook, 7/29/11]