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Feds Probe Hedge-Fund Titan

Looking into account overseen by Steve Cohen.

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Federal prosecutors are looking into an account overseen by Steve Cohen, one of the richest and most famous hedge-fund managers in the country. Specifically, they’re examining trades suggested by two former fund managers at his hedge fund, SAC Capital, who have since pleaded guilty to insider trading. Cohen set up the $3 billion account, known at SAC as “the Big Book,” as a place where his managers funnel their best trading recommendations; he then pays them bonuses if their recommendations pay big returns. So far, there has been no accusation of wrongdoing against Cohen or SAC.

Read it at The Wall Street Journal

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