Tags

, , , , , , , , ,


The now notorious SAC Capital, owned and operated by Steven Cohen (who was influential enough to get himself on the cover of two Vanity Fair Magazine issues) settled an insider trading case with the SEC for a cheap sum of 1 billion dollars (complete sarcasm intended.) But they still aren’t done with this mess. Cohen has a civil suit filed against him for lack of management skills (some of these laws that they make….), and if convicted pretty much loses all rights to invest and loses SAC Capital. Of the 8 traders charged with insider trading, 6 have plead guilty and 2 are expected to fight the case in court. The Hedgefund did produce 25% profit a year on close to 15 billion dollars for 20 years, so it’s not surprising that they finally got caught. The problem with this case is that if Cohen is convicted, up to 40% of investors could lose any money they currently have in SAC Cap.

Advertisements