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Komfie Manalo, Opalesque Asia:

Former SAC Capital Advisors portfolio manager Noah Freeman is now a "freeman." U.S. District Judge Jed Rakoff spared Freeman from serving prison for his cooperation in helping federal authorities win a guilty plea and $1.8bn in financial penalties from the hedge fund run by billionaire Steven A. Cohen, reported Reuters.

Rakoff recognized the "extraordinary" cooperation provided by Freeman after pleading guilty in 2011 for his role to commit conspiracy and securities fraud while working for SAC Capital. "The very nature of insider trading makes it virtually impossible to prosecute without the help of cooperators," Rakoff said.

However, the judge ordered Freeman to pay $181,000, which will offset a previous settlement he entered with the Securities and Exchange Commission (SEC) amounting to $1m.

Freeman was one of the eight former executives of SAC Capital who either pleaded guilty or were convicted for insider trading. In 2013, SAC Capital agreed to pay $1.8bn in penalties and pleaded guilty to securities charges. Cohen was not charged of any wrongdoings but was banned from managing outside money.

In January 2012, the SEC banned Freeman from trading in connection with the insider trading charges.......................

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