Teflon Stevie Cohen
Tweet
Share
E-mail
Hedge fund titan Steven Cohen of SAC Capital may be breathing a little easier this Fourth of July weekend as it appears U.S. prosecutors don't have enough evidence to file criminal insider-trading charges against him as a key deadline nears.
According to the Wall Street Journal, the deadline is tied to a five-year statute of limitations related to the illegal insider trading activity former SAC Capital portfolio manager Mathew Martoma was charged with.
While investigators have made every attempt to tie illegal insider trading charges to Mr. Cohen, those attempts have fallen short. One of those attempts focused on Mr. Martoma, as prosecutors hoped the portfolio manager would implicate Mr. Cohen. Martoma, however, refused to cooperate with investigators and plead not guilty to charges eventually brought against him. Martoma's case is expected to go to trial on November 4.
U.S. prosecutors could still go after Mr. Cohen if they find more recent illegal insider trading activity that won't be off limits because of the five-year statute of limitations.
According to the Wall Street Journal, the deadline is tied to a five-year statute of limitations related to the illegal insider trading activity former SAC Capital portfolio manager Mathew Martoma was charged with.
While investigators have made every attempt to tie illegal insider trading charges to Mr. Cohen, those attempts have fallen short. One of those attempts focused on Mr. Martoma, as prosecutors hoped the portfolio manager would implicate Mr. Cohen. Martoma, however, refused to cooperate with investigators and plead not guilty to charges eventually brought against him. Martoma's case is expected to go to trial on November 4.
U.S. prosecutors could still go after Mr. Cohen if they find more recent illegal insider trading activity that won't be off limits because of the five-year statute of limitations.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KKR launches Helix with over $10 billion to build AI infrastructure
- Tradeweb reports May trading volume of $62.3 trillion
- Lazard reports May assets under management at $284.8 billion
Create E-mail Alert Related Categories
Hedge Funds, Insiders' BlogRelated Entities
SAC Capital, Steven A. Cohen, Hedge FundsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
