Last January, analyst Jonathan Hollander’s name was mentioned as possibly having a connection to a Blackstone insider trading case, based on information presented to the government by his former employer, SAC Capital-owned CR Intrinsic. Not much has been heard about Hollander since then, but this morning Reuters‘ Matthew Goldstein reports that he’s actually in the super fun position of waiting to find out if federal authorities still have a problem with him.
One individual sitting on the prosecutorial bubble is former SAC Capital Advisors analyst Jonathan Hollander, who last worked for Steven Cohen’s $12 billion hedge fund in November 2008. Federal authorities have linked Hollander to several allegations of insider trading in both court filings and testimony at a recent criminal trial, but he has not been charged with any wrongdoing. Reuters has learned that prosecutors disclosed for the first time in August that they had taken at least two confidential statements from Hollander at some point over the previous 18 months.
Prosecutors disclosed the Hollander “proffer statements” in an August 25 letter to lawyers for former Jefferies Group Inc hedge fund manager Joseph Contorinis, who was convicted by a federal jury of insider trading in October.
The August letter to Contorinis’s lawyers did not divulge the substance of Hollander’s proffer statements, which a person familiar with the matter said were given some time ago…Proffer statements are generally given by individuals in the hopes of either avoiding charges or negotiating a plea deal. Defense lawyers said it was not uncommon for individuals, in giving a proffer, to describe potential wrongdoing by others in the hopes of getting immunity from prosecution.