SAC criminal charges expected today: report
SAC Capital is expected to be slapped with criminal charges on Thursday,
according to several news reports. Prosecutors are expected to file
charges of securities fraud and wire fraud against the $15 billion hedge
fund founded by Steve Cohen. The firm, one of the biggest hedge funds
in the world, has been under intense scrutiny by the government for
several years and has led to several former employees pleading guilty to
insider trading charges. Two former SAC Capital employees are currently
facing trial.
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