Attention New York Area Real Estate Brokers, Auction Houses: Steve Cohen's Stress-Shopping Spree May Have Years Left To Run

Author:
Bess Levin
Updated:
Jan 14, 2019
Original:
Jun 7, 2013

The conventional wisdom on Wall Street is the clock is running out for U.S. prosecutors to make a case against billionaire trader Steven A. Cohen and his hedge fund SAC Capital Advisors after years of investigation...But continuing investigations into allegations of insider trading in at least two other stocks, which were first reported by Reuters in December, could extend the deadline to file charges for three more years, according to people familiar with the SAC probe. [Reuters, earlier, earlier]

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In objective terms, worse things have happened to Steve Cohen than the news he received today. The charges against Mathew Martoma re: allegedly masterminding the largest insider trading scheme ever during his time at SAC. Friday's arrest of high-ranking employee Michael Steinberg. The $614 million he needs to personally pony up to settle with the Securities and Exchange Commission (which he may not even be allowed to do without an admission of guilt). The slanderous claim his house clocks in at a mere 14,000 square feet. The circling of federal investigators who want him bad. And yet presumably none of that compares to today's hit, which must have him in a fury that only the purchase of the Mona Lisa can assuage.

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Back in October, we detailed a list of things that, if you are the hedge fund manager who goes by the name Steven A. Cohen, you really don't want to hear first thing in the morning. They included: “The fleeces are on back order”; “Your ex-wife is in the lobby”; “There’s a photographer here who said he’s been authorized to shoot you wearing a king’s robe and crown for a set of playing cards”; “You’ve been outmaneuvered for the Toledo Mud Hens. But I hear the Binghamton Mets may be available.” Today we must update that list to include another thing, perhaps THE thing,* that people delivering news to Cohen don't want to relay. Paraphrasing but any variants on: "Mr. Cohen, we've received a Wells notice and by the way, they're considering naming you personally."

News

Attention New York Area Real Estate Brokers, Auction Houses: Steve Cohen's Stress-Shopping Spree May Have Years Left To Run

Steve Cohen Needs To Go Stress Shopping, STAT

Area List-Maker Too Good For Steve Cohen

Things Could Be A LOT Better At SAC Capital Right Now

SAC Capital Invites Investors To Gather 'Round For A Chat

Steve Cohen Tells Investors 2010 Was A Real Trip

Mathew Martoma Calls Steve Cohen ('s 2012 Testimony) To The Stand

Steve Cohen On Tape: The Scorecard

SAC Capital Will No Longer Provide Investors With Updates On Its Unconditional Cooperation With The Government's Investigation, Which Oh, By The Way, Ain't So Unconditional Anymore