Patricia Cohen, the former wife of Steven Cohen, has filed a RICO suit against Steve, his brother Donald, and SAC Capital (et al*) in Southern District court of New York. Patricia is alleging that Steve conspired with others to conceal "significant" marital assets of which she was due after their ten year marriage. She claims to have become suspicious of Steve after hearing about the Biovail case (on a 60 Minutes special), at which time she began her own investigation. She is seeking $300 million.
Patricia and Steve were married on December 7, 1979 (and divorced in 1988), and have two kids, a daughter and son. The ex. Mrs C. claims that SC told her to hand over profits from her real estate transactions to be placed in an account in his name at Gruntal & Co. She also claims that he got insider info in advance of the RCA-GE deal in 1985, and also hid a few million dollars from her made through real estate deals with Brett K. Lurie (who is now in jail).
SAC spokesman Jonathan Gasthalter told Dealbreaker in a statement, "These are ludicrous allegations made by a former spouse that are entirely without merit. It is disgraceful that a member of the bar would assist her in what can only be considered a transparent attempt to extort money."
*S.A.C. TRADING CORP., S.A.C. CAPITAL MANAGEMENT, INC., S.A.C. CAPITAL MANAGEMENT, LP, S.A.C. CAPITAL MANAGEMENT, LLC, S.A.C. CAPITAL ADVISORS, LLC, S.A.C. CAPITAL ASSOCIATES, LLC, CPA HEDGEFUND CO., LTD, SIGMA CAPITAL MANAGEMENT, LLC