It’s expected on Monday that the criminal trial against Steve A. Cohen’s hedge fund, SAC Capital Advisors will come to a conclusion with a guilty plea and a $1.2 billion fine, according to a report in the New York Times.
The plea will not resolve the ongoing Securities and Exchange Commission civil lawsuit brought against Cohen in July that accuses him of failing to supervise his employees. So far, six SAC traders have pleaded guilty of insider trading.
And as the trial of two former employees of Cohen’s begin in Manhattan later this month that is expected to reveal detailed witness testimony about the inner working of SAC, Cohen has still not been charged with a criminal offence or even accused of insider trading.
The F.B.I has continued to vigorously pursue SAC and many expect charges to be announced against Cohen in the coming months.
Cohen, 57, has communicated to investors that he has acted appropriately at all times.
Criminal Case Against Steve Cohen's SAC Capital Expected To End Today With Firm's Guilty Plea And Record Fine In The Billions
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