Staying in a hotel is boring, but it’s gotta beat a jail
cell. Michael Steinberg, a former SAC
Capital portfolio manager and top lieutenant to hedge fund honcho Steve Cohen,
has been holed up in a New York City hotel to avoid being paraded around in
handcuffs, The Post has learned.
Prosecutors with the Manhattan US Attorney’s office are
working toward an indictment of Steinberg related to an alleged insider-trading
scheme. Steinberg, 40, has been named as an unindicted co-conspirator in recent
court documents but has not been charged.
Steinberg’s lawyer, Barry Berke, has asked prosecutors that the married
father of two be allowed to turn himself in to authorities in the event he is
charged rather than risk being arrested in front of his family, according to
people close to the case. The feds have so far declined to make the deal…..
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