No indictment seen for SAC's Cohen by July deadline

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Billionaire hedge-fund honcho Steve Cohen is likely to avoid getting slapped with criminal charges related to a massive insider trading scheme ahead of a July 29 deadline, according to a report Thursday.

The New York Post reports that prosecutors have been probing Cohen and his SAC Capital for years, but as the late-July deadline looms, they have not been able to flip Mathew Martoma, a former top SAC trader, to gain key evidence and therefore feel the deadline will pass without an indictment, the report, citing people familiar with the situation, maintained.

Hard-hitting Manhattan US Attorney Preet Bharara, who has been pursuing Cohen like Captain Ahab chased his prey and has already rung up dozens of insider-trading convictions and guilty pleas, may be forced to change strategies on Cohen.

For the 57-year-old Stamford, Conn., investor, news that the July deadline will come and go without any charges being filed has to taste sweet.

Hit the link below to access the complete New York Post article:

No indictment seen for Cohen by July deadline

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