Cohen’s $14 billion SAC Capital Advisors firm could announce a plea deal with the feds to settle insider-trading charges as early as this week, according to a report. The deal with Manhattan US Attorney Preet Bharara would require SAC to plead guilty to criminal misconduct and pay more than $1 billion in penalties — a record fine for insider trading charges. The admission of guilt would mean that the hedge fund giant would become a so-called family office and could no longer manage outside money. SAC has agreed to most of the terms of the settlement with prosecutors and is just hammering out some “technical issues,” CNBC reported. An SAC spokesman declined to comment. “I hope the witch hunt is over,” said Anthony Scaramucci, founder and co-managing partner of SkyBridge Capital, a hedge fund of funds. Scaramucci is an investor in SAC Capital and friend of Cohen’s.
Fire Up The Super Duper Weenie Truck: Steve Cohen's Got A Party To Plan
It's the happiest of holidays up in Stamford, CT.