iBankCoin
Joined Nov 11, 2007
31,929 Blog Posts

SAC Trader Found Guilty of Insider Trading

“Former SAC Capital trader Michael Steinberg was found guilty of insider trading in shares of tech stocks¬†Dell¬†and Nvidia.

Steinberg, who worked at SAC subsidiary Sigma Capital, was found guilty on all five counts (one conspiracy, four securities fraud), CNBC’s Kate Kelly reported.

He faces up to 85 years in federal prison, according to CNBC’s Kelly.

Before the guilty verdict came out, Steinberg fainted in the courtroom…”

Full article

If you enjoy the content at iBankCoin, please follow us on Twitter