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SAC Capital Advisors Indicted by Federal Grand Jury in New York

Photographer: Rick Maiman/Bloomberg

SAC Capital Advisors LP was charged with four counts of securities fraud and one count of wire fraud in an indictment unsealed in Manhattan federal court. Close

SAC Capital Advisors LP was charged with four counts of securities fraud and one count... Read More

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Photographer: Rick Maiman/Bloomberg

SAC Capital Advisors LP was charged with four counts of securities fraud and one count of wire fraud in an indictment unsealed in Manhattan federal court.

SAC Capital Advisors LP, the $14 billion hedge fund founded by Steven A. Cohen, was indicted by a federal grand jury as part of the government’s six-year crackdown on insider trading on Wall Street.

The charges against the Stamford, Connecticut-based hedge fund are the most significant to be brought by the U.S. since former Goldman Sachs Group Inc. director Rajat Gupta was accused of insider trading in October 2011. Gupta, convicted by a federal jury in New York last year, was sentenced to two years in prison. He remains free on appeal.

To contact the reporter on this story: David Glovin in New York at dglovin@bloomberg.net

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net

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