Danny Kuo, a former analyst who pleaded guilty in 2012 to taking part in an insider-trading ring that included ex-SAC Capital Advisors LP fund manager Michael Steinberg, should be spared a prison term because of his assistance to the government, a prosecutor said.
Danny Kuo, a former analyst who pleaded guilty in 2012 to taking part in an insider-trading ring that made more than $68 million, asked a judge to sentence him to probation, claiming he’s “been punished enough.”
Former SAC Capital Advisors LP hedge fund manager Michael Steinberg was sentenced to 3 1/2 years in prison for insider trading, capping one of the biggest victories for prosecutors who spent seven years investigating the firm and its boss, Steven A. Cohen.
Michael Steinberg, the longest- serving SAC Capital Advisors LP hedge fund manager to be convicted of insider trading, should be spared years in prison because of what his supporters call his good works.
Level Global Investors LP co-founder Anthony Chiasson was sentenced to 6 1/2 years in prison for using illegal tips funneled to him from analysts and company insiders to make more than $68 million for his hedge fund.
SAC Capital Advisors LP’s Michael Steinberg, convicted of insider trading in December, should be sentenced to no more than two years in prison, less than half the sentence recommended by the court’s probation department, his lawyers said.
SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.
SAC Capital Advisors LP fund manager Michael Steinberg had a “dizzy spell” as a jury in Manhattan federal court prepared to deliver its verdict in his insider trading case after only one day of deliberations.
SAC Capital Advisors LP’s landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider-trading cases.