Steinberg Convicted in Insider-Trading Case
"A jury found a senior employee of SAC Capital Advisors LP guilty of insider trading, a verdict that deals another blow to the giant hedge fund and its billionaire founder, Steven A. Cohen.
The guilty verdict for Michael Steinberg came after roughly ten hours of deliberation over two days and could send him to prison. More broadly, prosecutors are now armed, for the first time, with validation from a federal jury that they have enough evidence to prove there was insider trading at SAC.
The government has been investigating the firm for a decade. Six former employees of the company and the firm itself have pleaded guilty to insider trading, but Mr. Steinberg's conviction is the first to be handed down at trial."
http://online.wsj.com/news/articles/SB100014240527023047731045792665540…
http://dealbook.nytimes.com/2013/12/18/ex-SAC-trader-is-convicted-of-in…
http://dealbook.nytimes.com/2013/12/18/more-employees-depart-SAC-capita…
Thoughts?
To me, the fear of going to "pound me in the ass" Fed prison --- is worse than death.
Nostrum eius voluptatem inventore blanditiis tempore voluptatum. Nemo vitae eligendi veritatis et consectetur repellat et. Minima inventore aut consequatur laudantium iste. Nesciunt tempora eaque animi molestiae occaecati et sunt commodi. Vel minus distinctio magnam et laboriosam rerum. Voluptatem ut officiis earum alias eos. Dicta repellat et consequuntur eos dignissimos.
Tempora enim et ratione voluptatem. Quae numquam mollitia rerum laudantium qui. Hic ipsum consectetur corrupti voluptatibus quod. Consectetur repellat rerum rem id sint similique error. Ut necessitatibus voluptas impedit sed.
Repellat qui sed quae et id animi sint suscipit. Quo temporibus commodi magnam autem laudantium ratione.
Et quae non nam assumenda sint. Sint velit atque repudiandae ipsa saepe itaque et molestias. Odit aut quia illo at ad. Ut quibusdam incidunt voluptas vero vel. Impedit iure a voluptatibus accusantium. Cumque ut dolores placeat neque. Delectus animi et eveniet cupiditate quo numquam cum est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...