Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
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.
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”
Overstock CEO Patrick Byrne Names Steve Cohen And Mike Milken As “Sith Lords”
Until now, Overstock CEO Patrick Byrne had only alluded to the “Sith Lords” he claims are at the center of the web of hedge fund and financial journalists that are destroying companies through rumor mongering and naked short selling.
Now he’s willing to name names.
Indian-origin hedge fund manager Mathew Martoma indicted in insider trading
The Economic Times, 26 December 2012
Indian-origin hedge fund portfolio manager Mathew Martoma has been indicted in one of the “most lucrative” insider trading schemes ever involving $276 million and will be arraigned in a court here next month. Martoma, 38, was arrested last month at his home in Boca Raton, Florida, on charges of using material, non-public information he received from a doctor on the clinical trial of an Alzheimer’s disease drug to make prots and avoid losses for his hedge fund in an amount totaling $276 million Continue reading “Article: Indian-origin hedge fund manager Mathew Martoma indicted in insider trading”
The Hedge Fund Industry: an increasingly litigious environment
cms lawnow, 12 December 2006
In July 2006, Fairfax Financial Holdings Limited (the insurance and financial services holding company based in Toronto Canada) brought a legal action in the Superior Court of New Jersey against a number of prominent US based hedge funds including S.A.C. Capital Management (the $10billion hedge fund operated by Stephen Cohen), Exis Capital Management, Lone Pine Capital, Rocker Partners L.P. and Third Point LLC alleging stock market manipulation. Continue reading “Article: The Hedge Fund Industry: an increasingly litigious environment”
From Bernie Madoff to Steven Cohen, Enabling Suspiciously High Returns
Jesse Eisinger, 12 December 2012
To have one employee tied to insider trading may be regarded as a misfortune. But, with apologies to Oscar Wilde, to have six looks like carelessness.
Poor Steven A. Cohen, the powerful hedge fund manager who heads SAC Capital Advisers. People he employs just keep getting swept up in the sprawling insider trading investigation that has spanned years now. In addition to the six who have gotten in trouble for activities when employed at SAC, at least six others have been ensnared by insider trading investigations after leaving the firm. The latest arrest, of the pharmaceutical industry analyst Mathew Martoma, is the first that ties Mr. Cohen to trades the government says were illegal. Continue reading “Article: From Bernie Madoff to Steven Cohen, Enabling Suspiciously High Returns”
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”
SAC Capital and Steven Cohen: Insider Trading is a Fog That Haunts Wall Street
Here we go again, another insider trading accusation on the heels of the Raj Rajaratnam conviction and sentencing. It involves SAC Capital Advisors and a former employee, Matthew Martoma.
The entire episode is detailed in a New York Times article in Monday’s paper. The allegations of insider trading are very serious and could have ramifications to many more individuals before it is over.
Insider trading case targets big donor
Steven A. Cohen, the multibillionaire hedge fund owner implicated in an insider-trading scandal, is a major political donor who has contributed heavily to big players in both parties.
Cohen and his wife, Alexandra, have donated more than $450,000 to the campaign committees and leadership PACs of Senate Majority Leader Harry Reid (D-Nev.), Senate Minority Leader Mitch McConnell (R-Ky.), House Majority Leader Eric Cantor (R-Va.) and other key lawmakers during the past several election cycles, Federal Election Commission records show.
Are the Feds Closing in on Billionaire Steven Cohen?
As part of a high-profile insider trading probe, the FBI raided three large hedge funds Monday. Two targets of the raid, Diamondback Capital Management and Level Global Investors have ties to billionaire investor Steven Cohen, a renowned art collector and #87 on Forbes’s world’s richest billionaires list.
Cohen, manager of SAC Capital Advisors, is a giant in the hedge fund world and news of the probe is generating a lot of buzz in the finance world:
Steven Cohen’s Hedge Fund Being Investigated For Insider Trading: Report
Matthew Goldstein and Svea Herbst, 18 March 2010
The question on the minds of investors, managers and lawyers inside and outside the hedge fund industry today is, who’s next? Continue reading “Article: Steven Cohen’s Hedge Fund Being Investigated For Insider Trading: Report”
New Evidence Raises Questions About Kingsford Capital – Links To TheStreet.com Inc., Others
Mark Mitchell
Market Rap, 7 January 2010
A blog published by the University of North Carolina School of Journalism reported recently that Steve Cohen of hedge fund SAC Capital managed to kill a story by Reuters reporter Matt Goldstein. It seems that Goldstein was going to shed some light on allegations that Cohen engaged in insider trading. Cohen didn’t like that, and got in touch with Goldstein’s superiors.
Liz Moyer
Forbes, 12 February 2007
How a tiny software outfit fell victim to an illegal but unrestrained practice known as naked short-selling.
Most investors have never heard of Sedona (otcbb: SDNA.OB – news – people ) Corp., a piddling Pennsylvania outfit that sells customer relationship management software for small U.S. banks and credit unions. But to a rogue band of short-selling hedge fund managers, Sedona was prime meat.
Steven Cohen slapped with lawsuit by ex-wife
Associated Press, 17 December 2009
The ex-wife of one of America’s richest men has sued the billionaire in New York for racketeering, saying he hid millions of dollars from her for decades. Continue reading “Article: Steven Cohen slapped with lawsuit by ex-wife”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
