Cohen – Page 4 – Financial Treason & Crime

Carleton English, 30 November 2016

Steve Cohen’s former hedge fund agreed to pay $135 million to shareholders of Elan Corp. to settle claims that the fund’s alleged insider trading caused them to lose money.

The shareholders claimed that SAC Capital used insider information to trade shares in the pharmaceutical company — now owned by Perrigo — between 2006 and 2008. SAC got the inside info from doctors involved in the clinical trials of Elan’s Alzheimer’s drug, it was alleged. Continue reading “Article: Steve Cohen’s former hedge fund settles insider trading suit for $135M”

10/20/201603/04/2021

Article: Inside Billionaire Steve Cohen’s Comeback

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Inside Billionaire Steve Cohen’s Comeback

In 2013, an insider-trading scandal brought down his hugely successful hedge fund. In his first interview about the firm since then, Cohen tells Fortune how he’s rebuilding for redemption.

On the night of Jan. 8, 2016, Steven A. Cohen walked into a steak house just east of Times Square. It was Friday, and the stock market had just closed out a brutally bloody first week of the year. But no matter: This was Exoneration Day, according to Cohen’s friend and former investor Anthony Scaramucci, and they were celebrating.

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08/04/201603/03/2021

Article: Robot Funds and Bank Regulation

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Robot Funds and Bank Regulation

Matt Levine, 04 August 2016

What’s Steve Cohen up to? Stamford Harbor Capital, the new firm started by Steven Cohen and led by a longtime deputy, is working with a third-party marketing company that’s meeting with potential clients to gauge interest in investment vehicles that could be started as soon as 2018. Continue reading “Article: Robot Funds and Bank Regulation”

06/11/201603/04/2021

Article: How Steven Cohen Built, and Almost Lost, His $12.7 Billion Net Worth

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How Steven Cohen Built, and Almost Lost, His $12.7 Billion Net Worth

Kay Jenkins, 11 June 2016

Steven A Cohen has a net worth of $12.7 billion, a figure that grew from a relatively small $25 million seed investment into his hedge fund, SAC Capital, in 1992. The firm was wildly successful in the 1990s and 2000s, minting billions for Cohen and his investors until an SEC investigation into insider trading effectively shuttered the firm in 2012.

Cohen may have fallen from grace, but that doesn’t mean he’s out of the game forever. In fact, some think he just may be getting started. Continue reading “Article: How Steven Cohen Built, and Almost Lost, His $12.7 Billion Net Worth”

01/09/201603/04/2021

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”

01/08/201603/04/2021

Article: SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case

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SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case

Bruce Carton, 08 January 2016

The SEC announced today that it has settled its high-profile lawsuit against hedge fund manager Steven A. Cohen, founder of SAC Capital. Under the Order resolving the case, Cohen will be prohibited from supervising funds that manage outside money until 2018. The SEC had charged Cohen with failing to supervise former portfolio manager Mathew Martoma, who was convicted of insider trading while employed at SAC. Continue reading “Article: SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case”

01/08/201603/04/2021

Article: Hedge fund billionaire Cohen settles with SEC after years of being investigated

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Hedge fund billionaire Cohen settles with SEC after years of being investigated

Anthony Noto, 08 January 2016

Authorities have spent almost a decade trying to corner Steven Cohen on insider trading charges. Today, the hedge-fund billionaire settled the long-standing case with the U.S. Securities and Exchange Commission.

The result: Cohen has been barred from managing client money until 2018. The settlement determined that the hedge fund manager failed to supervise an employee, Mathew Martoma, who was convicted of insider trading. The SEC ruled that Cohen’s family office must bring on an independent consultant to review their activity to make sure they remain compliant with securities laws. Continue reading “Article: Hedge fund billionaire Cohen settles with SEC after years of being investigated”

01/08/201603/04/2021

Article: In Insider Trading Settlement, Steven Cohen Will Be Free to Manage Outside Money in 2 Years

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In Insider Trading Settlement, Steven Cohen Will Be Free to Manage Outside Money in 2 Years

Matthew Goldstein and Alexandra Stevenson, 08 January 2016

Steven A. Cohen, the billionaire investor, is walking away largely unscathed from nearly a decade of investigations by federal prosecutors and securities regulators into accusations of insider trading at his former hedge fund.

On Friday, Mr. Cohen reached a deal with the Securities and Exchange Commission that will bar him from managing money for outside investors for the next two years. That is a far cry from the lifetime ban that securities regulators sought when they filed an administrative case against him more than two years ago. Continue reading “Article: In Insider Trading Settlement, Steven Cohen Will Be Free to Manage Outside Money in 2 Years”

01/08/201603/04/2021

Article: Steven Cohen Settles Insider Trading Case with SEC

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Steven Cohen Settles Insider Trading Case with SEC

Steven Cohen, the billionaire investor known as the hedge-fund king, has reached an agreement with federal securities regulators that will bar him from managing the money of his clients until 2018.

For Cohen, the longtime focus of a federal insider-trading investigation, the agreement with the Securities and Exchange Commission saves him from a lifetime ban from the industry, an outcome the agency had previously sought.

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10/07/201503/04/2021

Article: Steven Cohen returns to London after insider trading claims

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Steven Cohen returns to London after insider trading claims

Joanna Bourke, 07 October 2015

The US investment firm that oversees billionaire Steven Cohen’s wealth has agreed a deal to return to the UK, its new landlord has said. Two years after closing its London offices amid insider-trading allegations, Point 72 Asset Management will move to St James’s Square in London’s hedge-fund heartland.

The company plans to be operating out of the capital by the first quarter of 2016. It previously employed around 50 people in London. Continue reading “Article: Steven Cohen returns to London after insider trading claims”

08/19/201403/10/2021

Article: STEVE COHEN’S RIGHT-HAND MAN MAKES SURPRISE EXIT FROM FAMILY OFFICE

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STEVE COHEN’S RIGHT-HAND MAN MAKES SURPRISE EXIT FROM FAMILY OFFICE

MICHAEL FINNIGAN, 19 August 2014

Thomas Conheeney, the long-serving president of Steven A Cohen’s hedge fund SAC Capital, which pleaded guilty to insider trading last year, has stepped down from the organisation, less than a year after it converted to a family office. Conheeney, 50, will be replaced by Douglas Haynes, 48, a former director at consultancy firm McKinsey & Co, but will remain on in an advisory role until the end of the year.

Cohen said in a statement that he had worked with Haynes for several years on the board of New York poverty action charity the Robin Hood Foundation and was impressed by his work there so asked him to head his family office. Continue reading “Article: STEVE COHEN’S RIGHT-HAND MAN MAKES SURPRISE EXIT FROM FAMILY OFFICE”

05/30/201403/04/2021

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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04/18/201403/04/2021

Article: Steve Cohen – “The Hedge Fund King”

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Steve Cohen – “The Hedge Fund King”

One of the biggest stories in recent Wall Street history was the insider trading scandal centred around Steve Cohen’s SAC Capital Advisors. In July 2013, SAC was charged by the US Securities and Exchange Commission for failing to prevent insider trading, which led to a $1.2 billion fine and the firm agreeing to stop managing funds for outsiders.

Yet, Cohen himself managed to escape imprisonment, on the grounds that prosecutors lacked proof that he knew the trades in question, which were perpetrated by former SAC manager Mathew Martoma, were based on inside information, despite personally signing off on the deals.

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04/17/201403/04/2021

Article: The Anti-Buffett: Steven Cohen

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The Anti-Buffett: Steven Cohen

Brian Stoffel, 17 April 2014

The Anti-Buffett: Why You Should Avoid This Hedge- Fund King’s Tactics Steve Cohen got his start by simply reading the tape. Who is Steve Cohen? Founder of SAC Capital, at one time a hedge-fund with $14 billion in assets Personal wealth valued at $11 billion

It all started when…  Steve was a high school freshman in Long Island, and spent his days playing poker.  By the time he was a junior, he was making between $500 and $1,000 per night from poker alone! When he was in college…  Cohen would sit outside the Merrill Lynch offices in Philadelphia, and watch the stock ticker whiz by.  Over time, Cohen believed he could guess the direction of stocks, without knowing anything about their underlying business. Continue reading “Article: The Anti-Buffett: Steven Cohen”

04/10/201403/04/2021

Article: SAC Capital $1.8 billion penalty approved

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SAC Capital $1.8 billion penalty approved

Aaron Smith, 10 April 2014

A federal judge on Thursday approved a $1.8 billion settlement resulting from the guilty plea of hedge fund operator SAC Capital on charges related to insider trading by its employees. The firm, now known as Point72, reached the settlement last November with federal prosecutors, citing the firm for failing to prevent its employees from engaging in the illegal activity. Continue reading “Article: SAC Capital $1.8 billion penalty approved”