Steven Cohen’s worst nightmare
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.