SAC Capital’s Steinberg Guilty Of Insider Trading

Mani

Published onDecember 19, 2013

Updated on May 13, 2021

SAC Capital’s top portfolio manager Michael Steinberg was convicted on Wednesday of insider trading charges.

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Steinberg was convicted of conspiracy and securities fraud after a five-week trial in Manhattan federal court.

Federal jury found Steinberg guilty

A federal jury in Manhattan found Steinberg guilty on all five counts of conspiracy and securities fraud that he faced. Prosecutors said Steinberg traded on confidential information that was passed to him by an SAC analyst, who later admitted to swapping illegal tips with friends at other firms.

The verdict was the latest victory for federal prosecutors...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

SAC Capital’s Steinberg Guilty Of Insider Trading

Federal jury found Steinberg guilty

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