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Wiretap Evidence Included in SAC Capital Case, U.S. Says

The evidence of insider trading at SAC Capital Advisors LP includes court-authorized wiretaps, a U.S. prosecutor said at the $14 billion hedge fund’s arraignment in federal court in Manhattan.

“The discovery will be voluminous, including a large number of electronic recordings, including electronic messages, instant messages, court-authorized wiretaps and consensual recordings,” Assistant U.S. Attorney Antonia Apps told U.S. District Judge Laura Taylor Swain yesterday about the pretrial evidence-gathering process. “In short, a tremendous volume.”