To win a guilty verdict against one of hedge fund titan
Steven A Cohen’s most senior portfolio managers, U.S. prosecutors face a tough
task: convincing a jury that a man who already admitted to breaking the law is
telling the truth on the witness stand.
On Friday, U.S. authorities arrested and charged Michael
Steinberg, a 16-year veteran of Cohen’s $15 billion SAC Capital Advisors, with
insider trading in shares of the technology stocks Dell and Nvidia. The case against Steinberg, 40, is built heavily on the
testimony of one of his former colleagues, Jon Horvath, who has admitted to
insider trading and is now cooperating with the government.
No comments:
Post a Comment