Tuesday, November 20, 2012
Report: Feds look at Mets minority owner
By Adam Rubin
Author Kevin Roose in New York Magazine reports federal authorities are looking into Steven Cohen, who bought a stake in the Mets earlier this year and was a finalist to purchase the Dodgers. Writes Roose:
He is being accused, for the first time, of direct involvement in an illicit trading scheme — a scheme allegedly run by former SAC Capital trader Mathew Martoma that netted $276 million for the firm, which the SEC is calling “the most lucrative insider trading scheme ever."
Notice I said "accused," not "charged." Nothing in either the criminal or the civil complaint against Martoma directly charges Cohen with illegal acts. (In fact, the complaint doesn't even name Cohen, calling him "Portfolio Manager A.") But based on what's in them, it wouldn't be surprising if some of these incidents make it into an eventual set of charges against Cohen.
Read the full article here.