SAC's Ex Wife Going After $300 Million

W

Wayne Gibbous

Seems kinda bogus, but could get ugly for Stevie:


http://www.nytimes.com/2009/12/17/business/17hedge.html?_r=1&ref=business

Claims of Insider Trading From Trader’s Ex-Wife

JENNY ANDERSON and ZACHERY KOUWE
Published: December 16, 2009
This is a story about money and marriage on Wall Street — one about a fugitive, a billionaire, an ex-wife and her lawsuit.

It begins happily enough, 30 years ago this month, when a Wall Street trader named Steven A. Cohen married his sweetheart Patricia Finke.

Today, Mr. Cohen is among the world’s richest hedge fund managers, with a $6 billion fortune. And Ms. Cohen, whom he divorced long ago, is leveling some startling accusations.

In a lawsuit filed Wednesday, Ms. Cohen claims her ex-husband hid millions of dollars from her — a common enough complaint as big-money divorces go.

But here the story gets a little weird. Some of those millions, Ms. Cohen claims in her suit, were reaped through insider trading in the 1980s.

And then it gets even weirder. To hide his millions, the complaint asserts, Mr. Cohen funneled money to a New York real estate operator who was later convicted on fraud charges and then fled to Costa Rica, where he was eventually tracked down.

If Ms. Cohen’s claims are shocking, her motive is perhaps less so. She wants money — lots of it. She is seeking $300 million...
 
Everybody knew Cohen was a crook who traded on nothing but inside information. Look up a former hedge Fund manager of SAC (Seth Kangis) and he was looked at for insider trading. Like the allegations of this suit, the authorities simply were not smart enough to put it all together.

Kangis was certainly an interesting fellow (when he wasn't high on something) but he certainly was trained the Cohen way. he focused on badgering non-public info from corporate officers and found novel ways to hide his trading activities.

But look more closely and these successful fund managers at SAC can't seem to find success outside the compound. Could it be because the information you obtain inside his compound is radically different than that found in the public forum?
 
Perhaps he isn't as smart as I thought he was. In this climate he should just pay her. Now all this fraud stuff in the press, the public might want some of his hide. Golden showers, estrogen pills, fraud... Sac.... my sac, rub it...
 
"There's hardly a case in court a woman's fuss didn't start". I herd that somewhere :eek:

But after all, you gotta pitty this poor woman, 300 stacks just dont buy what it used to!.

2006_10_money.jpg
 
Quote from Wayne Gibbous:
-----Claims of Insider Trading From Trader’s Ex-Wife
-----But here the story gets a little weird.
-----And then it gets even weirder.
More...
She also slept around with Tiger Woods too? :confused:
 
wall street is such a corrupt mess right now.

If the politicians were not corrupted by wall street money this would have been all repaired years ago.
 
She'll take a hell of a beating in the Stevie butt-sniffing press. Tiger's ole' lady is the victim, but this woman will be vilified in every NY media outlet possible.

It's NY vs. the World. Always was. That revenue is the life blood of the Apple. Stevie goes down, it's a big hit. And the parties. No more parties. Tough world we live in.
 
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