(Reuters) – Michael Steinberg, a portfolio manager at Steve Cohen’s $15 billion SAC Capital Advisors, was arrested by the Federal Bureau of Investigation at his home in New York City early Friday morning in connection with a long-running insider trading investigation of the hedge fund, a FBI spokesman said.
Federal prosecutors had been considering indicting Steinberg on charges that he traded on inside information on Dell Inc stock, sources close to the matter said on Thursday. Continue reading “SAC Capital portfolio manager Steinberg arrested in NY-FBI”