“but can we tie it to Stevie?”
- Joshua M Brown
- May 6th, 2011
Have they finally come cross the evidence they’ve been pursuing all this time against Steve Cohen (SAC)? Do they now have something that’ll make insider trading charges stick?
I’m not an expert on this stuff but the Wall Street Journal is breaking a story this morning on it.
From Deal Journal:
Prosecutors have assembled enough evidence to fill 97 CDs and 19 computer hard drives…
According to our Journal colleagues and the roster of government evidence against Freeman and Longueuil, the two men “tagged” — or suggested — trades for what the government calls the “Cohen Account” – a $3 billion stock portfolio personally overseen by Cohen. Known within SAC as “The Big Book,” the account is a collection of best tips from SAC portfolio managers. The employees are paid a bonus if these tips pay off, our Journal colleagues reported.
If you want to see some of the evidence head over below.
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The Reformed Broker is a blog about financial markets and the economy. Joshua Brown is a New York City-based investment advisor for high net worth individuals, charitable foundations, retirement plans and corporations... More.