Steven Cohen Investigation
Senator Grassley's Investigation of SAC Capital Expanding
Even as the rhetoric heats up, there have been no allegations of any crime by SAC or Cohen.
Instead, specific instances of at least twenty separate, “questionable” trades have been disclosed by Grassley’s office. Following the conviction earlier this month of Raj Rajaratnam, the world of hedge fund traders have been waiting to see if further investigations are coming.
The role of hedge fund managers, who often invest their own funds alongside investors, has become a lightning rod for critical congressional investigators, such as Grassley.
Spokespeople from Senator Grassley’s office have so far declined any other specifics about the SAC investigation: “(We) can’t offer any specifics of the information received from Finra on SAC, at the request of the investigative agencies involved.
The allegations of hedge fund managers trading on possible “insider information,” and Grassley’s official reluctance to disclose any specifics, suggests Congressional inquiry may be paralleling Department of Justice investigations. Source