Episode #66

SAC Capital Hedge Fund Charged with Insider Trading

« previous episode | next episode »

Friday, July 26, 2013

After years of circling billionaire Steven Cohen, federal authorities brought criminal charges Thursday against his hedge fund SAC Capital Investors. 

The U.S. Attorney's office in New York charged SAC with four counts of securities fraud and one count of wire fraud for looking the other way and even encouraging illicit behavior among its traders. 

Preet Bharara, the U.S. Attorney for the Southern District of New York, said the indictment is not just a narrative of names and numbers. 

"It is more broadly an account of a firm with zero tolerance for low returns but seemingly tremendous tolerance for questionable conduct," he said. "SAC became over time a veritable magnet for market cheaters."

This week on Money Talking, regular contributors Rana Foroohar of Time magazine and Joe Nocera of the New York Times weigh in on the insider trading charges.

Hosted by:

Charlie Herman

Produced by:

Daniel P. Tucker


Rana Foroohar and Joe Nocera
News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.