SAC's Steinberg Gets 3.5 Years Despite Raising $22.50 In Brownie Sales For Friend In Need Of A New Heart

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To be fair, we don't actually know 1) how much money was raised and 2) if his friend needed a heart. It could've been a kidney or liver or a lung. What we do know is that U.S. District Judge Richard Sullivan was somehow unmoved by this argument, made on behalf of ex-SAC employee and convicted insider trader Mike Steinberg:

From co-founding a group that’s donated more than $8.7 million for work such as providing clean water and medicine in Africa, to raising money for a friend’s organ transplant with a bake sale, Steinberg has shown he deserves leniency at his sentencing today in Manhattan federal court, his supporters told the judge.

As a multi-millionaire-- and a guy who apparently made $1.8 million in ill-gotten gains-- would it potentially have been easier and faster to just give his friend who needed a kidney/heart/lung/liver the money? Sure. Does baking brownies at 1AM, shrieking and dropping the pan because you tried to take it out of the oven without oven mitts on show you really care? Apparently the answer is yes but it won't do you much good with regard to prison.1

SAC’s Steinberg Gets 3 1/2 Years as Insider Probe Wanes [Bloomberg]
SAC’s Steinberg Pins Hope For Leniency to Charity Claims [Bloomberg]

1. Let this be a lesson.↩

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