Hedge fund giant SAC Capital to pay $1.8B penalty

by FluteHolder Mon Nov 04, 2013 11:38 pm

http://news.yahoo.com/hedge-fund-giant-sac-capital-pay-1-8b-200532663--finance.html

Does US Attorney or his department will get a cut from these fines?

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U.S. Attorney Preet Bharara told a news conference the settlement should send the message that "no institution should rest easy in the belief that it is too big to jail." He said it was up to the courts to decide whether to accept the plea deal. No date for a plea was immediately set.

by Marathadi-Saamiyaar Mon Nov 04, 2013 11:44 pm

FluteHolder wrote:http://news.yahoo.com/hedge-fund-giant-sac-capital-pay-1-8b-200532663--finance.html

Does US Attorney or his department will get a cut from these fines?

--
U.S. Attorney Preet Bharara told a news conference the settlement should send the message that "no institution should rest easy in the belief that it is too big to jail." He said it was up to the courts to decide whether to accept the plea deal. No date for a plea was immediately set.

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Of the roughly $15 billion in assets that SAC managed as of earlier this year, about half belonged to Cohen and his employees. The rest was client money..... He is among an elite group of hedge fund managers who have personally earned at least $1 billion a year....Cohen wasn't named as a defendant in the case. He was repeatedly referenced in court papers at the "SAC owner" who "enabled and promoted" insider trading practices.

*****WTF*****WTF****WTF****

The punishment is NOTHING.

confiscate all Cohen's properties, and everyne's except the clients, and then throw this Cohen Jerk and everyone in Jail for no less than 10 years...

Hedge fund giant SAC Capital to pay $1.8B penalty

Hedge fund giant SAC Capital to pay $1.8B penalty

Re: Hedge fund giant SAC Capital to pay $1.8B penalty