Steve Cohen Had No Choice But To Throw A Huge Party Two Days After His Firm Was Indicted

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Maybe you would have let thousands of dollars worth of tuna go to waste, but not this animal lover. That and the draconian cancellation policy of one East Hampton fishmonger, plus Damien Hirst's inability to fly in and turn a potential ecological and financial disaster into a diamond-encrusted and/or Plexiglass-encased masterpiece meant the show had to go on.

Hedge fund billionaire Steven A. Cohen did not let the filing of criminal charges against his $14 billion SAC Capital Advisors get in the way of a party this weekend at his vacation estate in tony East Hampton, New York. The Saturday night party at Cohen's 10-bedroom home on Further Lane took place two days after federal prosecutors in New York announced a five-count criminal indictment against SAC Capital that portrayed the 21-year-old Stamford, Conn.-based fund as a breeding ground for unlawful insider trading. The lavish affair, which one source said included delivery of $2,000 worth of tuna from a local fish store to Cohen's home, was planned before the charges were filed. A person familiar with the event said the party, attended by a few dozen people, was intended by the 57-year-old manager to show support for ovarian cancer research, though it was not a fundraiser.

Steven Cohen throws a party despite his fund's indictment [Reuters]

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