How Much Is at Stake for SAC's Steve Cohen?

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Sept. 23 (Bloomberg) -- Lawyers for hedge fund SAC Capital Advisors LP reached out to prosecutors in New York to say that founder Steven Cohen is interested in settling the civil and criminal cases against him and his company, according to people familiar with the matter. Bloomberg Businessweek's Sheelah Kolhatkar reports on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Involves a pretty substantial fine.

The government really wants steve: to feel the pain.

What kind of number are we talking about?

They want to punish him.

I have heard a billion dollars is in the ballpark.

Of course, it will be a subject of much negotiation and high- priced legal wrangling.

They essentially want to punish him for his mishandling of his company, what they alleged to be the mishandling of his employees, but at the same time, they do not want to inflict pain on innocent parties, his investors.

So the idea here is to target cohen himself.

Something else we talked about over the summer, the criminal charges were against the fund itself, sac capital, and not the person of steve cohen.

What does this mean for him eventually finding settlement?

Prosecutors in new york indicted sac capital, the company.

They usually do not do this.

There is one president that people like to mention, arthur anderson, indicted as part of the enron case.

Thousands lost their job.

They do not want to do that.

Any resolution of that case will involve cohen, the owner of sac capital, paying whatever fines and restitution they decide to be fair.

Any sense of a timeline?

If a settlement is reached, it will be days, not weeks, weeks not months, how will the timing fall?

It will be complicated.

He is seeking to resolve his claims with the sec civil charges, as well as these criminal charges.

All of that will be wrapped up into one cluster of the jury years -- lawyers negotiating.

We have to see how that plays out.

Thank you for sharing that with us.

She broke the story on sac and

This text has been automatically generated. It may not be 100% accurate.


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