Hedge fund king escapes SEC charges

The recent SEC settlements spare SAC’s founder, the billionaire Steven A. Cohen, who hasn’t been charged with wrongdoing. Mr. Cohen, one of the most successful hedge fund managers in the world, has long been considered a  target of federal investigators. SAC Capital, the giant hedge fund, settled insider trading charges with the Securities and Exchange Commission for $614 million. http://dealbook.nytimes.com/2013/03/15/sac-settles-insider-trading-cases-for-614-million/?ref=business The charges are tied to one of its affiliate employees, who is accused of trading on illicitly obtained confidential information about the drug makers Elan and Wyeth. Another affiliate settled charges that it engaged in insider trading in the stocks of Dell and Nvidia.

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