"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.
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