SAC to plead guilty and settle insider trading charges

Steve Cohen may be ready to exhale.

The New York Post reports that an expected $1.2bn deal between Cohen’s SAC Capital Advisors hedge fund and prosecutors to settle criminal insider-trading charges against the firm could insulate the billionaire investor from criminal charges, according to a report.

In the deal, expected to be announced within days, SAC will plead guilty to securities fraud and pay the massive fine. It will also agree to quit managing outside investor capital - becoming a family office solely to manage Cohen’s $9bn fortune.

As part of the deal, a long-running criminal probe of Cohen will continue, but no charges are expected against him, the Wall Street Journal reported Tuesday, quoting people familiar with the deal.

White-collar criminal experts have long suspected that any SAC settlement would have to protect Cohen, the firm’s founder and owner, from similar criminal charges.

To access the complete New York Post article hit the link below:

SAC to plead guilty to fraud as part of insider-trading deal

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