SAC’s Steinberg Was Cohen Confidant With Ties to Chiasson
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Of all the former employees at Steven A. Cohen’s SAC Capital Advisors LP who have been charged with insider trading, Michael S. Steinberg was closest to the hedge fund’s billionaire founder, starting as a young recruit and rising to become one of his most-trusted money managers.
He joined SAC in 1997, three years after graduating college, and was part of a group of traders who socialized with Cohen at joint vacations and sporting events. Steinberg introduced the hedge-fund owner to his art adviser, and Cohen attended Steinberg’s 1999 New York wedding, according to former colleagues, friends and people with knowledge of SAC.