Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
How The Trading Platform Robinhood Started Stealing From The Poor To Give To The Rich
A best-selling fiction author could not have spun a more ironic tale so completely representative of our time. Just as an unprecedented situation—COVID and lockdowns—unfolded over the past year and led to massive gains for corporate titans like Walmart and Amazon.
While governments have crushed small businesses and individuals, a new, unprecedented situation has unfolded over the past week.
Steve Cohen Rides Point72 Gains to $1.4 Billion in Personal Earnings
Stephen Taub, 05 January 2021
Steven Cohen’s Point72 Asset Management just posted its best year since it launched with outside money in 2018 — capping what has been a remarkable professional and personal comeback for the founder of now-defunct SAC Capital Advisors. Continue reading “Article: Steve Cohen Rides Point72 Gains to $1.4 Billion in Personal Earnings”
Who is Steve Cohen? The Connecticut billionaire buying the New York Mets is a lifelong fan, an avid art collector and was embroiled in an insider trading scandal
The news that Connecticut billionaire Steve Cohen is purchasing a majority stake in the New York Mets has invigorated the team’s fans, who hope an owner with deep pockets can turn around the fortunes of a team that has made the playoffs just twice in the past decade.
Cohen would be the wealthiest owner across all the major sports leagues, but who is he? The 64-year-old hedge fund manager is chairman and CEO of Point72 Asset Management in Stamford and lives in Greenwich.
Controversial hedge fund billionaire Steven Cohen takes on HollywoodBillionaire hedge fund manager Steven A. Cohen is known for owning one of the best private art collections in the world and for his many multimillion-dollar homes. However, he is perhaps best known for having been the subject of one of the government’s most high-profile insider trading investigations.
In 2013 Cohen’s once-powerful firm, SAC Capital Advisors, pleaded guilty to a criminal indictment and paid a record $1.8-billion settlement.
Steven A. Cohen is an American billionaire hedge fund manager, He is the founder of hedge funds Point72 Asset Management and now-closed S.A.C. Capital Advisors, both based in Stamford, Connecticut. In 2013, the Cohen-founded S.A.C. Capital Advisors pleaded guilty to insider trading and agreed to pay $1.8 billion in fines in one of the biggest criminal cases against a hedge fund. Cohen was prohibited from managing outside money for 2 years as part of the settlement. The hedge fund agreed to plead guilty to wire fraud and four counts of securities fraud and to close to outside investors.
Richard Choo-Beng Lee, who co-founded Spherix Capital and once was an analyst at SAC Capital, pled guilty in 2009 along with Spherix co-founder Ali Far, admitting to engaging in an insider trading scheme that enabled Spherix to make $5 million. Lee secretly informed on various individuals and recorded several phone calls with 28 people, including billionaire Steven A. Cohen, whose SAC Capital employed Lee as an analyst from 1999 to 2004, prosecutors said. Lee was also ordered by U.S. District Judge Kevin Castel in Manhattan to pay a $100,000 fine in light of his 2009 guilty plea.
Three weeks prison for key informant in U.S. insider-trading cases
What We Talk About When We Talk About the Russian Mob
IN ROBERT MUELLER’S famed “Iron Triangles” speech, given to the Citizens Crime Commission of New York on 27 January 2011, the then-FBI Director explains how 21st century transnational organized crime works. (He also, improbably, cracks a joke about Justin Bieber’s haircut, the only sentence in the speech that feels dated).
The so-called “mob” is no longer run by a few families, Mueller says, but rather “flat, fluid networks with global reach,” comprised of groups in countries all around the world, which are “more anonymous and more sophisticated.”
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Steve Cohen probably isn’t going to save the Mets
Sheryl Ring, 07 December 2019
In November 2013, SAC Management Companies, a hedge fund operated by new Mets owner Steve Cohen, agreed to pay $1.8 billion – with a B – to resolve insider trading and money laundering charges. Continue reading “Article: Steve Cohen probably isn’t going to save the Mets”
U.S. judge tosses former SAC Capital trader’s insider trading guilty plea
NEW YORK (Reuters) – A federal judge in Manhattan on Friday threw out the 2013 insider trading guilty plea of a former trader at SAC Capital Advisors LP, the hedge fund once run by billionaire Steven A. Cohen, saying recent changes in the law meant there were not enough facts to support the plea.
The trader, Richard Choo-Beng Lee, 62, had been a major cooperating witness and one of the first to plead guilty in former Manhattan U.S. Attorney Preet Bharara’s insider trading crackdown, which began in 2009 and led to more than 80 guilty pleas and convictions.
basserdan, 27 October 2018
On September 8, 2008, Jonathan Johnson of Overstock.com, Kenneth Salomon of DowLohnes Government Strategies LLC, and John Wellborn of the Haverford Group met with Commissioner Aguilar and his counsel, Cyndi Rodriguez. They discussed issues related to the amendments to Regulation SHO, Rel. No. 56213 (S7-19-07) and the Emergency Order, Rel. Nos. 58166 and 58190 (S7-20-08) and issues related to data on the volume of failures to deliver. Continue reading “Article: (SEC) Meeting with Representatives of Overstock.com, DowLohnes Government Strategies and Haverford Group”
‘Hedge Fund King’ Steven Cohen Gets Back to Business
Money Talking, 02 February 2018
Before he was known for an insider trading scandal, Steven Cohen was known as the “hedge fund king,” bringing sky-high returns to clients at his super successful firm, SAC Capital Advisors — and serving as an inspiration for the Showtime series “Billions.”
Now, Cohen is looking to get back into business after a two-year ban on trading other people’s money ended at the start of this year. With his new company, Point72 Asset Management, Cohen is once again courting clients and their billions — up to $4 billion, according to a recent report from Bloomberg. Continue reading “Article: ‘Hedge Fund King’ Steven Cohen Gets Back to Business”
Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again
Nicole Einbinder, 08 January 2018
Steven Cohen, the billionaire investor once known as “the hedge-fund king,” could soon be managing other people’s money again — assuming investors can look past the insider trading allegations that sunk his previous firm.
For the past two years, Cohen has been barred from managing money for clients under a 2016 agreement reached with the Securities and Exchange Commission for failing to properly supervise a former portfolio manager at his fund SAC Capital Advisors who was found guilty of insider trading. Continue reading “Article: Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again”
Banned Hedge Fund Manager Steven Cohen Is Back – And Investors Are Wary
Ari Feldman, 26 December 2017
Steven Cohen may soon be able to manager other people’s money once again — but potential investors are wary, the New York Times reported. Cohen, a billionaire who for years ran S.A.C. Capital, nearly had had his career destroyed after a government investigation into insider trading at his firm.
Cohen was banned for two years from running a hedge fund after an investor at his firm used illegal trading methods. S.A.C. Capital also paid $1.6 billion in fines and penalties after pleading guilty to securities exchange fraud. Continue reading “Article: Banned Hedge Fund Manager Steven Cohen Is Back – And Investors Are Wary”
The Curious Career of Steven Cohen
Robert Abbott, 07 November 2017
Few investment gurus have as controversial a record as Steven Cohen (Trades, Portfolio). He has won acclaim for outstanding returns over the long term, he’s been cursed for the way he does business by other Wall Streeters and he was at the center of an insider trading scandal, one that saw several of his traders convicted. Continue reading “Article: The Curious Career of Steven Cohen”
The Story of Steve Cohen and SAC Capital
RICHMAN CENTER NEWS, 30 October 2017
On October 30, 2017, the Richard Paul Richman Center for Business, Law, and Public Policy held a fireside chat with Sheelah Kolhatkar, author of Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street. In her book, Kolhatkar relives the challenges faced by federal prosecutors while investigating insider trading by SAC Capital, a hedge fund headed by Steve Cohen—a secretive, intense, and highly successful trader who made billions from short term investments and trading. Continue reading “Article: The Story of Steve Cohen and SAC Capital”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
