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 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”
Steven Cohen’s Billions Complicate Return of Glory Days
Nir Kaissar, 08 September 2017
(Bloomberg Gadfly) — Don’t call it a comeback just yet. As Bloomberg News reported on Tuesday, hedge fund manager Steven A. Cohen is preparing to raise as much as $10 billion from outside investors in 2018 for a new fund. Combined with his personal fortune of $11 billion, the fund could oversee more than $20 billion, which would make it the largest U.S. hedge fund launch in history. Continue reading “Article: Steven Cohen’s Billions Complicate Return of Glory Days”
Social Rejection?: Hedgie Steve Cohen Wants Out of East Hampton
Smashmouth Investigative Journalism, 17 January 2014
The world’s most infamous trader wants to get out of East Hampton, NY. Yesterday I reported for the New York Observer that Stevie Cohen, of SAC Capital, is trying to broker a private deal to sell a $60 million ocean front home he bought less than a year ago. His reasoning, according to a person on the deal, is East Hampton is ‘too Jewish’ and he has instructed people to start looking for another home in other Hampton enclaves.
This one real estate transaction has fueled a social media debate about what he’s really doing. Having lived and worked among Cohen-ites and his SAC Captial traders for the last decade out in Connecticut’s gold coast I don’t think his comment is a signal of anything anti-Jewish. Instead I believe it shows his social network could be failing since the hedge fund he founded plead guilty to supporting a culture of massive inside trading. Continue reading “Article: Social Rejection?: Hedgie Steve Cohen Wants Out of East Hampton”
SAC to pay $1.8 billion to settle insider trading charges
Reuters, 04 November 2013
Billionaire investor Steven A. Cohen’s days as a hedge fund manager may be finished with an agreement by his SAC Capital Advisors to plead guilty to criminal charges of insider trading and pay a record $1.8 billion in fines and forfeitures.
But Cohen, one of Wall Street’s best known traders, has not been personally charged with any crime and will likely continue managing some $9 billion of his own money through a family office once his hedge fund’s plea deal is cleared by the courts. Continue reading “Article: SAC to pay $1.8 billion to settle insider trading charges”
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”
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”