SAC Capital: When The Feds Came Knocking
2008 – SAC? Steve Cohen? No way!
When the SEC suspects an organization is involved in fraud, the investigation can last for months, if not years. The regulator’s probe into SAC reportedly started five years ago, coinciding with the beginning of its sprawling crackdown on insider trading. During former SEC chairman Mary Schapiro’s tenure between 2009 and 2012, the crackdown led to more than 400 individuals and organizations being charged with the crime. Among these, Galleon Group’s head Raj Rajaratnam and Rajat Gupta, a former McKinsey managing director also involved in the infamous Galleon case, who are currently both behind bars.