By Newswires: Independent investigative reporter Teri Buhl
talked to Max Keiser and Stacie Herbert about what she found out about
the SEC’s insider trading fine of Stevie Cohen. Ms. Buhl told Keiser
that Cohen had told his investors that he knew it looked bad, but not to
worry, that he would pay the fine out of his personal wealth. She
reported that the SEC fine of $600 million is just 6% of his net worth.
The money will go to the US Treasury, not to the investors who were
damaged.
The SEC said that he can still be sued. Arrest and prosecution are up to the Justice Department. The SEC action did not name Cohen, instead referring to him as Portfolio Manager A, who it said was the founder of the firm. Max Keiser also gave his inimitable take on it. Have a look (follows 15 second commercial). Source
The SEC said that he can still be sued. Arrest and prosecution are up to the Justice Department. The SEC action did not name Cohen, instead referring to him as Portfolio Manager A, who it said was the founder of the firm. Max Keiser also gave his inimitable take on it. Have a look (follows 15 second commercial). Source
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