'I thought my job was in danger. I thought he would fire me', Horvath, the government’s star witness in the insider-trading case against Steinberg, told a Manhattan federal jury.
The New York Post reports that Horvath, testifying Wednesday on the fifth day of the trial, said he received an ultimatum from the top SAC money manager after Horvath’s tech recommendations for Steinberg lost money in 2007.
'What I need you to do is to go out and get me edgy, proprietary information that we can use to make money in their stocks', Horvath testified that Steinberg told him after a bad losing streak.
Horvath said he thought Steinberg wanted him to cultivate sources of 'material non-public information'.
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image: © Clyde Robinson