They've been after him for a while. Civil enforement action against SAC Capital Advisers. Indictments, criminal investigations and pleas from several SAC employees . Just this past weekend , the arrest of long-time SAC employee , Michael Steinberg . Steinberg is being charged with insider trading in shares of Dell and Nvidia. Looks like a tough case on it's face.
The Government may have to show 4 or 5 links in the "insider-trading chain" to convict Steinberg . Not easy, but usually if the Feds want you bad enough, they'll find a way to get you. Or simply to ruin your life and bankrupt you.
But , at the end of the day this is not about Steinberg or any other "SAC employee " who has been pursued. It's all about Steven A. Cohen, who sits atop his Connecticut Kingdom . The Feds have decided he did something wrong and will not rest until they compile enough evidence to indict him or drive him out of business....Or both!
So who will will have more staying power? The US Government or "the multi-billionaire " with his army of lawyers ? Good question.
In the meantime, business as usual for Cohen who just dropped $100 million on artwork and a cool $ 60 mill on a Hampton's property.
And the beat goes on......
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