T-bone1 Posted November 5, 2009 Share Posted November 5, 2009 I for one would be shocked, shocked I tell you, to find out there are improprieties at SAC. From Reuters: "Ali Far and Choo Beng Lee, the former hedge fund traders turned government informants in the Galleon insider trading case, have admitted to engaging in illegal insider trading for many years, according to their cooperation agreements. In the case of Lee, the agreements suggest that he engaged in illegal insider trading while working at Steven Cohen’s SAC Capital, the Connecticut-based hedge fund. In the case of Lee, the alleged wrongful conduct dates back as far as 1994. In both cases, this would suggest the men engaged in insider trading while working at other hedge funds before setting up their own fund, Spherix Capital, in 2007." Link to comment Share on other sites More sharing options...
oldye Posted November 5, 2009 Share Posted November 5, 2009 Anyone know anything new about the Fairfax lawsuit? It starting to look like the dominoes are starting to fall. Link to comment Share on other sites More sharing options...
StubbleJumper Posted November 5, 2009 Share Posted November 5, 2009 By the time the FFH lawsuit is ever resolved, there's a good chance there'll be no money left at SAC. However, maybe some of the other defendants will still have some assets... Does joint and several liability prevail in the US? SJ Link to comment Share on other sites More sharing options...
Smazz Posted November 5, 2009 Share Posted November 5, 2009 1 vote here for FFH winning the lawsuit but no money from accused once convicted. Its going to be a blood from stone situation imo. Link to comment Share on other sites More sharing options...
Parsad Posted November 5, 2009 Share Posted November 5, 2009 For Prem, any judgment in his favor...monetary or not...is vindication. They tarnished his reputation. That's far more important to Prem than money. Alot of these guys will also be out of business. Cheers! Link to comment Share on other sites More sharing options...
dowfin1 Posted November 5, 2009 Share Posted November 5, 2009 Mike Milken still had hundreds of millions of dollars after he left jail for his Drexel crimes. SAC should also. Link to comment Share on other sites More sharing options...
ubuy2wron Posted November 6, 2009 Share Posted November 6, 2009 Mike Milken still had hundreds of millions of dollars after he left jail for his Drexel crimes. SAC should also. By many sources Milliken had 1 billion left after paying his fines Stevie has more than a few shekles left kicking around perhaps they can grab his house and use it for an exec retreat they could play hockey in the indoor skating rink see link.http://images.google.ca/imgres?imgurl=http://www.hauteliving.com/wp-content/uploads/cohenmansion1.jpg&imgrefurl=http://www.hauteliving.com/hauteblog/update-steven-a-cohen%25E2%2580%2599s-megamansion-getting-even-larger/&usg=__2XrEa0NxhPgwC9e5y_iXjTdAXck=&h=296&w=480&sz=141&hl=en&start=2&um=1&tbnid=EeHVsDJL6PYf7M:&tbnh=80&tbnw=129&prev=/images%3Fq%3Dsteve%2Bcohen%2527s%2Bhouse%26hl%3Den%26sa%3DN%26um%3D1 Link to comment Share on other sites More sharing options...
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