Criminal Case
As for any criminal case, the SEC’s administrative action described how the U.S. has amassed more information about Cohen’s behavior and interactions with both Martoma and Steinberg, and described how Cohen received and traded on what the U.S. has said was an e-mail that contained nonpublic information.
The U.S. attorney may also avoid the immediate constraints of the statute of limitations by levying a conspiracy charge alleging a continuing pattern of misconduct. And while prosecutors normally have a five-year deadline to bring mail fraud and wire fraud charges, that deadline can be pushed to 10 years if the crimes affect a financial institution, Bharara said.
The investigation by his office, and by the Federal Bureau of Investigation, said a person with knowledge of the probe, is continuing.