July 25, 2013 / 2:23 PM / 4 years ago

U.S. seeks asset forfeiture, money laundering fines from SAC

Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, listens to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada in this May 11, 2011, file photo.Steve Marcus/Files

NEW YORK (Reuters) - U.S. prosecutors filed civil charges on Thursday against SAC Capital Advisors hedge fund seeking forfeiture of what they said were illegal profits made from insider trading, according to court documents.

The lawsuit, filed in federal court in New York on the same day as criminal charges were unveiled in an indictment against the firm founded by Steven A. Cohen, accused SAC of making "hundreds of millions of dollars in illegal profits."

It also calls for SAC to pay penalties for money laundering.

A spokesman for SAC Capital did not immediately respond to a request for comment.

Reporting By Emily Flitter; Editing by Grant McCool

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