SAC Capital to be sentenced in $1.8B fraud deal

A New York judge is set to sentence Conn.-based SAC Capital on Thursday after it pleaded guilty to criminal fraud charges in a $1.8 billion deal with the government.

Judge Laura Taylor Swain will sentence SAC Capital and three related entities based on pleas to wire fraud and securities fraud.

Read More SAC Capital renames itself Point72

Getty Images

Both sides have asked Swain to follow the terms of the agreement announced in November.

The government said in a presentencing memorandum that the majority of money managed by the defendants during a decade-long fraud that began in 1999 belonged to the hedge fund's owner and founder, Steven A. Cohen. It noted eight employees were convicted of insider trading.

Read More Hot eBay item: SAC Capital polar fleece

The corporate defendants say in court papers they are "deeply remorseful" for the misconduct of each individual who broke laws.

—By The Associated Press