Money | SAC Capital Advisors Hedge Fund Pleads Guilty, but Tycoon Gets Off Firm hit with record fine after 'unprecedented' insider trading By Kevin Spak Posted Nov 5, 2013 11:15 AM CST Copied This Friday, July 26, 2013, file photo shows the Greenwich, Conn., estate belonging to billionaire hedge fund owner Stephen Cohen, founder of SAC Capital Advisors. (AP Photo/Vincent T. Vuoto, File) SAC Capital pleaded guilty to all five counts in the damning criminal complaint against it yesterday, agreeing to a total of $1.8 billion in penalties, the largest haul ever for an insider trading case. The plea marks the end of an 11-year case, and marks the first time "in a generation" that a Wall Street firm has confessed to criminal conduct, the New York Times reports. But prosecutors weren't able to lay a hand on the real apple of their eye, SAC founder Stephen A. Cohen. Sources tell the Wall Street Journal that, barring new evidence, Cohen will never be charged personally with a crime, and though SAC will now be barred from managing money from outside investors, it will likely continue managing Cohen's massive fortune—and hence continue to be a market force. Traders speculate that Cohen, meanwhile, will simply found a new company to manage client money. Asked if they were disappointed, prosecutors defended the fines as "very substantial." SAC, meanwhile, released a statement decrying the "handful" of "wrongdoers" who had pleaded guilty. Read These Next Mid Cops: Arizona 5th graders drew up plot to 'end' a classmate. The DOJ just fired 3 prosecutors tied to Capitol riot criminal cases. Trumps ends trade talks with Canada. Report an error