In 2010, the billionaire hedge fund manager Steven A. Cohen gave a rare interview to Vanity Fair. He said that he wanted to combat persistent rumors that his firm, SAC Capital Advisors, routinely violated securities laws by trading on confidential information.
“In some respects I feel like Don Quixote fighting
windmills,” Mr. Cohen said at the time. “There’s a perception, and I’m trying
to fight that perception.” Federal
prosecutors only heightened that perception on Tuesday, bringing a criminal
case against a former SAC employee in what Preet Bharara, the United States
attorney in Manhattan, who brought the charges in Federal District Court in
Manhattan, called the most lucrative insider trading scheme ever charged.
And for the first time, the evidence suggests that Mr. Cohen
participated in trades that the government says illegally used insider
information….
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