Steve Cohen gets subpoena in US insider trading probe
Steve Cohen has received a subpoena to testify before a grand jury in a federal insider trading investigation at his hedge fund, SAC Capital Advisers. Steve Cohen’s subpoena puzzles defense lawyers.
The decision by U.S. prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is leaving many criminal defense lawyers scratching their heads.
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Steven Cohen to Testify Before Grand Jury over Insider Trading
24/7 Wall St., 20 May 2013
As federal officials investigate insider trading at Steven Cohen’s SAC Capital Advisors, the noose has begun to tighten around his neck. There has long been a suspicion that he was aware of the illegal practice within his firm, if he did not employ it himself. Worries about the possible legal effects of the probe have caused many of his investors to flee. If Cohen is caught in the government’s web, the process likely escalate. Continue reading “Article: Steven Cohen to Testify Before Grand Jury over Insider Trading”
Gangster State America. “Naked Short” in the Gold Market
Dr. Paul Craig Roberts
Global Research, 13 May 2013
There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver.
My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold investors and hedge fund managers.
The sale was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery. No one but the Federal Reserve could have placed such an order, and the order came from one of the Fed’s bullion banks, one of the entities “too big to fail.”
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UBS, in Theory, a Conspiracy to Naked Short “Tens of Millions” of Shares
MARK MITCHELL, 01 May 2013
It wasn’t long ago when they were saying that naked short selling never happened. They said it simply did not exist, that only wild-eyed conspiracy theorists believed in naked short selling. That was before 2008, when the CEOs of some big banks started hollering that naked short selling was causing the stock prices of their banks to nosedive. With the CEOs of the big banks hollering, the SEC, in June, 2008, issued an Emergency Order banning naked short selling (that previously did not exist) in the stocks of 19 big financial institutions (i.e. the financial institutions that were doing the naked short selling—to each other). But the SEC did nothing about the naked short selling of other stocks because, apparently, that naked short selling existed only in the fevered imaginations of people who believed that their savings were being wiped out by little green men. Continue reading “Article: UBS, in Theory, a Conspiracy to Naked Short “Tens of Millions” of Shares”