Tags: informants, insider-trading, SAC Capital, Steve Cohen, The Stevie Files, Wesley Wang
Take note, insider-traders and those who might be accused of it in spite of their innocence: If you wear a wire and finger every single person you’ve ever known, you don’t have to go to jail.
Wesley Wang, the former SAC analyst who helped convict one former boss and is probably helping to build cases against his bosses at SAC and Trellus Management, will get to keep doing so from the comfort of his northern California home.
A former hedge fund consultant who cooperated with the government’s sprawling insider trading probe was sentenced to two years probation on Wednesday by a federal judge.
U.S. District Judge Jed Rakoff sentenced Wesley Wang in an afternoon proceeding during which the judge said, “the extent of Mr. Wang’s cooperation goes beyond that of most cooperators.”
SAC would not comment. Previously, the firm hasn’t been shy about tarring the not-insignificant number of alumni who’ve pleaded guilty to—or been found guilty of—insider trading. Is The Big Guy’s silence another disturbing sign of the kinder, gentler SAC? Or is he saving them for a private moment with ol’ Wes, perhaps when the latter is hanging upside-down over a large body of water with something heavy chained to his feet, to drop his own hint to Mathew Martoma?
Former SAC analyst who cooperated with probe gets probation [Reuters]
Former Hedge-Fund Consultant Avoids Prison Time After Aiding Insider Probe [WSJ]
Ex-SAC Analyst Gets Two Years’ Probation in Insider Case [Bloomberg]
Message to Mathew Martoma: SAC analyst Wesley Wang, who helped government with insider trading probe, gets only two years probation [N.Y. Post]