SAC oversaw $6 billion for outsiders at the start of this year. Cohen has about $7.5 billion in SAC’s funds and employees account for $1.5 billion of assets, according to data compiled by Bloomberg.

Cohen, 57, hasn't been named in the criminal indictment, and faces no threat of time in a federal prison.

Bharara has said he’s not aiming to put the firm out of business but that federal laws allow for monetary penalties for companies that break the law. SAC was charged with four counts of securities fraud and one count of wire fraud.

Giving prosecutors a head start in proving their criminal case, the U.S. described separate insider trading schemes by at least eight former SAC fund managers and analysts, including Noah Freeman, Donald Longueuil, Jon Horvath, Wesley Wang, Mathew Martoma, Richard Choo-Beng Lee and Michael Steinberg.

“This is a case about corporate conduct and corporate responsibility,” Federal Bureau of Investigation Assistant Director George Venizelos said in a statement. “SAC Capital and its management fostered a culture of permissiveness. SAC not only tolerated cheating, it encouraged it. Our aim all along has been to root out the wrongdoers, and send a message to anyone else inclined to break the law. If your information ’edge’ is inside information, you can’t trade on it.”

An initial hearing in the case is scheduled for today before U.S. District Judge Laura Taylor Swain in Manhattan.

The case is U.S. v. SAC Capital Advisors LP, 13-00541, U.S. District Court for the Southern District of New York (Manhattan).

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