Cohen Account
Cohen Account Examined by U.S. Prosecutors in Court Case
Federal prosecutors are looking into trades made in an account overseen by mega hedge fund manager Steven Cohen that to him were suggested by two of his former fund managers. The two former employees have pleaded guilty to insider trading and now, according to court filings, the prosecution has focused on the "Cohen Account," the personal portfolio account for Mr. Cohen at SAC Capital Advisors.
The development surfaced in court filings submitted in connection with a sweeping insider-trading investigation, which focuses on ways traders can receive nonpublic information from experts connected to industries or firms.
At issue is trading in a $3 billion stock portfolio personally overseen by Mr. Cohen at SAC Capital Advisors and referred to by the government in the filings as the "Cohen Account" and internally at SAC as "The Big Book."
SAC portfolio managers funnel their best trading ideas to Mr. Cohen for this account and are paid a bonus if they generate big returns for Mr. Cohen, according to people familiar with the matter. Source
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Tags: Cohen Account, Steven Cohen Account, Cohen Hedge Fund, Steven Cohen Hedge Fund, Steven Cohen Trail, Steven Cohen Hedge Fund Trial, Steven Cohen Insider Trading
