Subject: Preet Bharara

Subject of Interest

Preetinder Singh Bharara  is an American lawyer, author, and former federal prosecutor who served as the United States Attorney for the Southern District of New York from 2009 to 2017. He served as an Assistant U.S. Attorney for five years prior to leading the Southern District. Born in Firozpur, India, his family immigrated to New Jersey in 1970. Bharara became a U.S. Citizen at age 12. Bharara graduated from Harvard College in 1990 and attended Columbia Law School before joining Gibson, Dunn & Crutcher as a litigation associate in 1993. Three years later he moved to Shereff, Friedman, Hoffman & Goodman. Bharara first entered the public sector as chief counsel to Senator Chuck Schumer the he transferred to the U.S. Department of Justice in 2004 as an assistant U.S. Attorney, launching his career as a federal prosecutor. Upon the election of U.S. President Donald Trump, Bharara was dismissed after refusing to submit his resignation as part of the 2017 dismissal of U.S. attorneys. He received a Bachelor of Arts degree magna cum laude from Harvard College in 1990 and a Juris Doctor degree from Columbia Law School in 1993 where he was a member of the Columbia Law Review.

Biography

Article: Russian hacker pleads guilty in ‘massive’ stock market cyberattack

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Russian hacker pleads guilty in ‘massive’ stock market cyberattack

Jeff Elder, 28 September 2019

This week a Russian hacker pleaded guilty in what the U.S. Department of Justice called “a massive computer hacking campaign targeting U.S. financial institutions, brokerage firms, financial news publishers, and other companies.”

The Southern District of New York case includes dramatic events in which Andrei Tyurin made “an effort to artificially inflate the price of certain stocks” and then “marketed the stocks in a deceptive and misleading manner” to customers whose contact information he stole from companies including an unnamed major financial news agency. Continue reading “Article: Russian hacker pleads guilty in ‘massive’ stock market cyberattack”

Article: The Astonishing Return Of Steven Cohen

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The Astonishing Return Of Steven Cohen

RONALD OROL, 26 September 2017

In 2013, an insider-trading scandal took apart billionaire Steve Cohen’s otherwise incredibly successful hedge fund.

But surprising, perhaps shockingly, at least for those who haven’t followed the situation closely, Cohen is back. A 2016 settlement with the Securities and Exchange Commission will allow the beleaguered money-manager to accept outside money starting in January. Cohen hasn’t said whether he wants to take on other investors, but the consensus opinion is that he will the second he’s permitted. Expect to find lots of willing investors ready to allocate capital to his funds – and the intense glare of the nation’s securities regulator watching his every move. Continue reading “Article: The Astonishing Return Of Steven Cohen”

Article: When the Feds Went After the Hedge-Fund Legend Steven A. Cohen

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When the Feds Went After the Hedge-Fund Legend Steven A. Cohen

Sheelah Kolhatkar, 09 January 2017

One day in early 2013, Preet Bharara, the U.S. Attorney for the Southern District of New York, met with his deputy, Richard Zabel, about one of the biggest cases of his career—a crackdown on insider trading in the hedge-fund industry. Although the financial crisis had receded, popular rage against Wall Street bankers and traders was still strong; most Americans had seen their incomes stagnate while the fortunes of the wealthiest continued to swell. For the previous few years, Bharara and the prosecutors who worked under him at the Southern District, along with investigators at the Federal Bureau of Investigation and the Securities and Exchange Commission, had been studying phone logs, wiretapping traders’ calls, and flipping witnesses, one after the other, as they worked their way deep into some of Wall Street’s most profitable hedge funds. Bharara was now considering a criminal indictment of Steven A. Cohen, the founder of a fourteen-billion-dollar hedge fund called S.A.C. Capital Advisors. Continue reading “Article: When the Feds Went After the Hedge-Fund Legend Steven A. Cohen”

Article: SEC settles with hedge fund billionaire Steven Cohen

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SEC settles with hedge fund billionaire Steven Cohen

Renae Merle, 09 January 2016

Billionaire Steven A. Cohen has been in the crosshairs of federal prosecutors for nearly a decade. His hedge fund, SAC Capital, was once one of the most powerful on Wall Street, managing more than $15 billion for investors and producing stellar returns for years.

But prosecutors suspected that SAC’s success was too good to be true.

U.S. Attorney Preet Bharara in Manhattan once called Cohen’s hedge fund as a “veritable magnet for market cheaters.” When, in 2013, SAC agreed to pay $1.2 billion to settle charges that it tolerated rampant insider trading it was one of the highest-profile successes in the government’s aggressive push against insider trading. Continue reading “Article: SEC settles with hedge fund billionaire Steven Cohen”

Article: The Taming of the Trading Monster

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The Taming of the Trading Monster

Even billionaires have feelings,” Alexandra Cohen had taken to saying. Her husband, Steve Cohen, is the billionaire in question. He’s one of the most successful hedge-fund managers in history—“the Michael Jordan of trading,” in the words of one Wall Street observer.

He’d built SAC Capital Advisors into one of the most profitable hedge funds in the world while amassing a net worth estimated at $11 billion.

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Article: 49 Russian Diplomats and Spouses Charged with Medicaid Fraud, But Diplomatic Immunity Bars Their Arrest

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49 Russian Diplomats and Spouses Charged with Medicaid Fraud, But Diplomatic Immunity Bars Their Arrest

Steven A. Meyerowitz, 06 Decembet 2013

A total of 49 current or former Russian diplomats and their spouses have been charged by U.S. prosecutors with participating in a widespread health care fraud scheme from 2004 to August 2013 to illegally obtain nearly half a million dollars in Medicaid benefits. Not one of the people charged was arrested, because of diplomatic immunity.

Each of the defendants is a current or former Russian diplomat or the spouse of a diplomat employed at either the Russian Mission to the United Nations, the Russian Federation Consulate General in New York, or the Trade Representation of the Russian Federation in the USA, New York Office. Continue reading “Article: 49 Russian Diplomats and Spouses Charged with Medicaid Fraud, But Diplomatic Immunity Bars Their Arrest”

Article: Hedge fund giant SAC Capital to pay $1.8B penalty

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Hedge fund giant SAC Capital to pay $1.8B penalty

LARRY NEUMEISTER, 05 November 2013

SAC Capital Advisors will plead guilty to criminal fraud charges, stop investing money for others and pay $1.8 billion — the largest financial penalty in history for insider trading — to resolve criminal and civil claims against the hedge fund giant, the government announced Monday.

The government said in a letter to judges presiding over Manhattan cases that the “proposed global resolution” of the criminal and civil cases against SAC Capital Advisors and related companies also includes an agreement that SAC will cease operating as an investment adviser and will not accept any additional funds from third-party investors. Continue reading “Article: Hedge fund giant SAC Capital to pay $1.8B penalty”

Article: Steve Cohen Unclear On Insider Trading Rules In 2011 Deposition

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Steve Cohen Unclear On Insider Trading Rules In 2011 Deposition

Matthew Zeitlin, 06 November 2013

Steven A. Cohen’s hedge fund SAC capital will pay $1.8 billion fines for violating laws that Cohen once described as “very vague.”

SAC Capital, plead guilty Monday to five counts of wire and securities fraud in what U.S. Attorney Preet Bharara described as insider trading “on a scale without any known precedent in the history of hedge funds.” The fund agreed to pay $1.2 billion in penalties to settle the charges in addition to over $600 million SAC paid in a SEC settlement in March and to shut down its investing of outside money. Continue reading “Article: Steve Cohen Unclear On Insider Trading Rules In 2011 Deposition”

Article: An insider-trading conviction condemns Steve Cohen to becoming the 59th-richest American

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An insider-trading conviction condemns Steve Cohen to becoming the 59th-richest American

US federal prosecutors threw the book today at SAC Capital Advisors, forcing the hedge fund to plead guilty to insider trading and pay a total of $1.8 billion to the government, the largest penalty ever for the offense.

The case revolved around allegations that SAC portfolio managers repeatedly obtained inside information about major firms and used it to beat the markets. US Attorney Preet Bharara, the lead prosecutor, presented it as a major victory against insider trading by punishing an entire firm for a culture of corruption.

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Article: SAC Capital Pleads Guilty to Decade-Long Insider Trading Conspiracy

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SAC Capital Pleads Guilty to Decade-Long Insider Trading Conspiracy

ANTOINE GARA, 04 November 2013

Steven A. Cohen’s hedge fund SAC Capital Advisors agreed to plead guilty to federal charges that it violated insider trading laws and will pay a record $1.8 billion in fines and restitution.

In July, a grand jury indicted SAC Capital and its affiliates for one count of wire fraud and four counts of securities fraud, in an insider trading conspiracy U.S. prosecutors alleged lasted over a decade and led to hundreds of millions of dollars in illegal profits and avoided losses. Continue reading “Article: SAC Capital Pleads Guilty to Decade-Long Insider Trading Conspiracy”

Article: SAC: federal grand jury indicts hedge fund for insider trading

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SAC: federal grand jury indicts hedge fund for insider trading

Heidi Moore, 26 July 2013

A federal grand jury has indicted SAC Capital, the embattled hedge fund that has been pursued by financial authorities for years, for insider trading after regulators failed to charge its powerful founder, Steven A Cohen.

The US attorney who brought the charges, Preet Bharara, also hit the firm with civil money-laundering charges that would require the firm to forfeit potentially billions of dollars in assets. Continue reading “Article: SAC: federal grand jury indicts hedge fund for insider trading”

Article: Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading

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Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading

BARBARA ROSS and BILL HUTCHINSON, 26 July 2013

Wall Street’s richest hedge fund, SAC Capital Advisors, owned by billionaire Steven Cohen, was indicted Thursday by a federal grand jury on charges of being an insider-trading machine. Prosecutors charge that SAC made “hundreds of millions of dollars of illegal profits” from 1999 to 2010 by recruiting employees based on trade secrets they brought to the firm, or if they had the know-how to get them.

The scheme “was substantial, pervasive and on a scale without known precedent in the hedge-fund industry,” the indictment charges. Continue reading “Article: Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading”

Article: SAC Capital indicted in 6-year US insider trading probe

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SAC Capital indicted in 6-year US insider trading probe

Patricia Hurtado, 25 July 2013

SAC was indicted on 4 counts of securities fraud, 1 count of wire fraud in an indictment unsealed in Manhattan federal court. Manhattan: SAC Capital Advisors LP, the $14 billion hedge fund founded by Steven A. Cohen, was indicted by a US grand jury as part of the government’s six-year crackdown on insider trading on Wall Street. Continue reading “Article: SAC Capital indicted in 6-year US insider trading probe”

Article: NY Insider trading: Bharara is after Steven Cohen, not Mathew Martoma

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NY Insider trading: Bharara is after Steven Cohen, not Mathew Martoma

SUttara Choudhury, 28 November 2012

Manhattan US Attorney Preet Bharara, who has won guilty convictions against high-profile Galleon Group billionaire Raj Rajaratnam and former Goldman Sachs director Rajat Gupta, is not resting on his laurels.

Since the crackdown on insider trading began five years ago on Wall Street, there have been more than 70 arrests. Manhattan US Attorney Preet Bharara, who has won guilty convictions against high-profile Galleon Group billionaire Raj Rajaratnam and former Goldman Sachs director Rajat Gupta, is not resting on his laurels. Continue reading “Article: NY Insider trading: Bharara is after Steven Cohen, not Mathew Martoma”