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.
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.
Prosecutors rested their insider- trading case against ex-Galleon Group LLC trader Zvi Goffer , who offered no evidence on his own behalf, while a lawyer for one of Goffer’s accused accomplices, Michael Kimelman , tried to show his client didn’t trade on illegal tips.
David Slaine had a secret for the FBI that summer day, one of scores he would eventually reveal in his role as a dream informant. The subject was Teterboro Airport. Slaine claimed a money manager he knew was using it to profit quietly on trades of health-care stocks.
Prosecutors rested their insider- trading case against ex-Galleon Group LLC trader Zvi Goffer , his brother Emanuel, and accused accomplice Michael Kimelman as the traders offered evidence that they didn’t trade on illegal tips.
Zvi Goffer , the ex-Galleon Group LLC hedge fund trader, was convicted with his brother and a third defendant on all counts by a jury in the second trial to result from a nationwide crackdown by the U.S. on insider trading.
Former Galleon Group LLC trader Zvi Goffer , accused of leading one of three insider-trading rings that are the subject of a nationwide U.S. probe, was indicted along with four others on additional charges.