SAC Capital: When The Feds Came Knocking
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Down They Come...
September 2012
Michael Steinberg’s name first surfaces in a broader inquiry when a former SAC analyst who worked under him pleads guilty to being part of an insider trading ring that illegally traded the technology stocks of Dell and Nvidia. As part of his guilty plea, the analyst, Jon Horvath, implicates Steinberg, a technology stock specialist in SAC’s Sigma Capital unit who has worked at Cohen’s hedge fund since 1997. Horvath says he gave him inside information and they allegedly traded based on this non-public financial data, reaping more than $6million for SAC.
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio
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