Rabbi in SAC Extortion Plot Sentenced to 4 Years
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Milton Balkany, a Brooklyn, New York, rabbi, was ordered to serve four years in prison for trying to extort $4 million from Steven Cohen’s SAC Capital Advisors LP.
U.S. District Judge Denise Cote sentenced Balkany today in Manhattan. Balkany, 64, was convicted by a federal jury in November of extortion and blackmail charges after he threatened to disclose insider trading by SAC. There was no evidence at the trial that he had any such evidence.