T-bone1 Posted October 2, 2012 Posted October 2, 2012 "“At SAC Capital you were expected to provide your trading ideas to Cohen,” Freeman said, according to a Dec. 16, 2010, memo written by FBI Special Agent B.J. Kang. “Freeman and others at SAC Capital understood that providing Cohen with your best trading ideas involved providing Cohen with inside information.” " http://www.bloomberg.com/news/2012-10-02/ex-sac-capital-manager-tells-fbi-fund-used-insider-data.html Unfortunately, even if they manage to convict him, he will probably be out in five years and still worth billions like Milken. On the other hand, this is a lot more fun than watching that clown buy obnoxious art and build ice skating rinks with impunity. Maybe he can go on to an illustrious second career as a James Bond villain.
Parsad Posted October 2, 2012 Posted October 2, 2012 He's too smart so far. There is nothing to implicate him other than that his firm has a culture of unethical conduct within its ranks. Hopefully eventually they nail him. Cheers!
NormR Posted November 20, 2012 Posted November 20, 2012 Ex-SAC Manager Martoma Charged in Record Insider Scheme A former portfolio manager for Steven A. Cohen’s SAC Capital Advisors LP was charged with what U.S. prosecutors called a record-setting insider-trading scheme that netted as much as $276 million for the hedge fund.
tng Posted November 20, 2012 Posted November 20, 2012 It's obvious that the Feds are building their case against Cohen, they are much more interested in the top dog than the lieutenants. We've seen how in many of these white collar cases, the lieutenants all turn and cut deals when the heat rises. It will be interesting to watch.
biaggio Posted November 20, 2012 Posted November 20, 2012 http://online.wsj.com/article/SB10001424127887323713104578130930796204500.html?mod=WSJ_Markets_LEFTTopStories Steven Cohen Implicated in Alleged Insider-Trading Scheme
Parsad Posted November 20, 2012 Posted November 20, 2012 http://online.wsj.com/article/SB10001424127887323713104578130930796204500.html?mod=WSJ_Markets_LEFTTopStories Steven Cohen Implicated in Alleged Insider-Trading Scheme Sadly, they only have a civil suit involving him, and it's for $275M...a tiny fraction of his net worth. What they need is to topple his lieutenants and get them to roll over on him. That's the only way they'll be able to take down this white-collared Bonanno wannabe. Kudos to Preet Bharara for digging and digging. Cheers!
NormR Posted November 20, 2012 Posted November 20, 2012 Seems they have a serious "culture" problem at SAC. :o
Guest valueInv Posted November 21, 2012 Posted November 21, 2012 Wouldn't limited partners already be pulling out money as they see the cases building?
Parsad Posted November 21, 2012 Posted November 21, 2012 Wouldn't limited partners already be pulling out money as they see the cases building? You would think so...I can only hope so. Too bad we can't short SAC! I'm also surprised that Chanos did not stumble across this fraud. ;D Cheers!
Uccmal Posted November 21, 2012 Posted November 21, 2012 The case is headlining on Bloomberg today. This witness is going to roll and take down the whole house of cards. Good on the FBI and SEC. They need a big victory. Finally, It would be nice to see this prick behind bars for the rest of his career. I think the guy who wrote "the snakes among us" was writing cohen's biography.
Parsad Posted November 21, 2012 Posted November 21, 2012 The case is headlining on Bloomberg today. This witness is going to roll and take down the whole house of cards. Good on the FBI and SEC. They need a big victory. Finally, It would be nice to see this prick behind bars for the rest of his career. I think the guy who wrote "the snakes among us" was writing cohen's biography. Don't hear anything from the other toadies these days either...where is the notorious Sam Antar? Hiding under his rock I presume! Cheers!
PlanMaestro Posted November 21, 2012 Posted November 21, 2012 The case is headlining on Bloomberg today. This witness is going to roll and take down the whole house of cards. Good on the FBI and SEC. They need a big victory. http://bloom.bg/QuOpre
ubuy2wron Posted November 22, 2012 Posted November 22, 2012 Wouldn't limited partners already be pulling out money as they see the cases building? Most of SAC dough is Stevies money. I think any investors still with lil Steve know he is um "a little colourful" and happy with the returns.
original mungerville Posted November 22, 2012 Posted November 22, 2012 Hey guys, I guess I haven't been posting much last few years... but in any case, I hope they get that SOB at SAC.
Uccmal Posted November 23, 2012 Posted November 23, 2012 This guy Mortoma, is going to roll on Stevie. FBI: We have a deal for you Mr. Martoma, 20 years, and you miss your children growing up, or 2 yrs less a day, no fine, and you testify against Mr. Cohen, and provide us enough info to convict him. Given his ethics so far, he will take the easier softer way. This will allow The FBI enough info to completely raid Cohen. How cool is that?
Parsad Posted November 23, 2012 Posted November 23, 2012 This guy Mortoma, is going to roll on Stevie. FBI: We have a deal for you Mr. Martoma, 20 years, and you miss your children growing up, or 2 yrs less a day, no fine, and you testify against Mr. Cohen, and provide us enough info to convict him. Given his ethics so far, he will take the easier softer way. This will allow The FBI enough info to completely raid Cohen. How cool is that? More on this from the NY Times: http://www.cnbc.com/id/49938192 Cheers!
PlanMaestro Posted November 26, 2012 Posted November 26, 2012 Don't hear anything from the other toadies these days either...where is the notorious Sam Antar? Hiding under his rock I presume! Cheers! @SamAntar NYTimes: New Breed of SAC Capital Hire Is at Center of Insider Trading Case http://nyti.ms/Sk5fYi @SamAntar Memo to Mathew Martoma: Don't get fooled by your high paid lawyers. They will defend you to your last dollar. Give up Steve Cohen. @SamAntar Memo to Mathew Martoma: Your lawyers are selling you hope. They won't spend time in prison for your lack of cooperation with the Feds. @SamAntar Memo to Mathew Martoma: No amount of money is worth ten plus years in federal prison. Ask any inmate.
Parsad Posted November 26, 2012 Posted November 26, 2012 Don't hear anything from the other toadies these days either...where is the notorious Sam Antar? Hiding under his rock I presume! Cheers! @SamAntar NYTimes: New Breed of SAC Capital Hire Is at Center of Insider Trading Case http://nyti.ms/Sk5fYi @SamAntar Memo to Mathew Martoma: Don't get fooled by your high paid lawyers. They will defend you to your last dollar. Give up Steve Cohen. @SamAntar Memo to Mathew Martoma: Your lawyers are selling you hope. They won't spend time in prison for your lack of cooperation with the Feds. @SamAntar Memo to Mathew Martoma: No amount of money is worth ten plus years in federal prison. Ask any inmate. Wow, Sam is the rat that everyone always knew he was. He's turning on the hedgies himself...trying to distance himself now! Cheers!
dcollon Posted November 28, 2012 Posted November 28, 2012 http://www.bloomberg.com/news/2012-11-28/sac-is-said-to-tell-clients-that-it-received-wells-notice.html
zippy1 Posted December 22, 2012 Posted December 22, 2012 Titan to Withdraw Money From SAC Another investor in Steven A. Cohen's SAC Capital Advisors LP has decided to withdraw its money from the hedge-fund firm, which is facing regulatory scrutiny. Titan Advisors LLC recently told clients that it had decided to withdraw its entire investment from SAC, said clients who received phone calls from Titan "They've told us they still think SAC is a good firm but Titan doesn't need the headline risk, and we sure don't," said Tom Taneyhill, executive director of the Fire & Police Employees' Retirement System of the City of Baltimore, on Friday. http://online.wsj.com/article/SB10001424127887324731304578193874156975406.html?mod=googlenews_wsj
T-bone1 Posted January 8, 2013 Author Posted January 8, 2013 Another nail in the coffin for Stevie: http://www.businessinsider.com/wang-names-20-more-insider-trader-names-2013-1 Sometimes, when the weather is just perfect, and I'm feeling truly optimistic, I think for a moment that they just might get this guy . . . not often, but sometimes . . .
constructive Posted January 8, 2013 Posted January 8, 2013 I'd throw him in jail, just for charging 3% + 50%.
ragu Posted January 9, 2013 Posted January 9, 2013 Sometimes, when the weather is just perfect, and I'm feeling truly optimistic, I think for a moment that they just might get this guy . . . not often, but sometimes . . . Heh. I except that you aren't alone in thinking that way. Best, Ragu
fareastwarriors Posted March 22, 2013 Posted March 22, 2013 Inside a Star Hedge Fund: Lots of Big Bets, Built Fast google it or http://online.wsj.com/article/SB10001424127887324323904578366931326859890.html?mod=WSJ_hps_LEFTTopStories
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