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Steven Cohen’s worst nightmare

Wednesday, July 24, 2013 - 01:55

If anyone keeps SAC Capital Advisors founder Steven Cohen up at night, it’s Preet Bharara, the U.S. Attorney for the Southern District of New York. The prosecutor has made a name for himself going after insider trading, and he’s got Cohen’s firm in his crosshairs.

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This is Stephen -- poll but 57 year old hedge fund titan and founder of SAC cap. Worth about nine billion dollars at the target of a long running insider trading investigation. And this is his worst nightmare. Street Ferrara a 44 year old US attorney who makes 155000. Dollars a year. Why. In under four years -- is charged more than eighty people with insider trading back convictions or guilty pleas in over seventy cases. -- time's cover this man is busting Wall Street. He put away billionaire Raj Rajaratnam. Head of accounting group for eleven years for overseeing a massive insider trading. Using wiretaps against Wall Street targets for the first time. Rorer also won the conviction of rajaratnam informant Russia to -- a former director of Goldman Sachs. He's facing a two year prison sentence. -- busted two Credit Suisse traders who admitted they conspired to manipulate the value of subprime mortgage securities. It was a rare criminal prosecution related to subprime. -- -- is not limited to Wall Street he's gone after the Times Square bomber Somali pirates political corruption the mafia. At a cop with street -- appetites. But for the past several years -- has overseen the -- against colon and SEC capital partners that started over a decade ago. Robert charged one former SEC employee in November and another in March with insider trading and now he's targeting the entire firm. Which could put -- SEC out of business. And on CNBC recently Burris said I don't think anyone is too -- to indict known -- too big to jail. On the same time I think people need to understand. That there are appropriate circumstances. In which institutions are blamed when he also.

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Steven Cohen’s worst nightmare

Wednesday, July 24, 2013 - 01:55