NEW YORK (CBSNewYork/AP) — A huge Connecticut-based hedge fund owned by an embattled billionaire is facing insider-trading charges.
Federal authorities in New York City announced the criminal charges against SAC Capital Advisors on Thursday. SAC is charged with wire fraud and four counts of securities fraud, but owner Steven Cohen is not charged.
Prosecutors alleged the crimes were carried out from 1999 through at least 2010.
The criminal charges come less the week after Cohen was accused of wrongdoing in a civil case brought by the Securities and Exchange Commission. The SEC alleged he failed to stop insider trading at his firm.
Web Extra: Read The Indictment (.pdf)
In papers filed in federal court in Manhattan, the government sought SAC’s forfeiture of “any and all” assets.