Stamford hedge fund SAC Capital Advisors accused of insider trading

A Stamford-based hedge fund owned by an embattled billionaire faces insider-trading charges. Federal authorities in New York announced criminal charges against SAC Capital Advisors today.

STAMFORD - A Stamford-based hedge fund owned by an embattled billionaire faces insider-trading charges.

Federal authorities in New York announced criminal charges against SAC Capital Advisors today.

SAC is charged with wire fraud and securities fraud.

The charges come less than a week after owner Steven Cohen was accused of wrongdoing in a civil case brought by the Securities and Exchange Commission.

Authorities say Cohen is not facing charges in the criminal case.

advertisement | advertise on News 12

Trending Video

1 Scholar Athlete: Nick Vanbelle
The rainfall in Stratford has yet to cause 2 Rain, wind not causing trouble on roads in Fairfield
The fire started on Bond Street Monday morning. 3 Eight people displaced after fire in Bridgeport
4 Connecticut Sportscast, Jan. 23
5 12 on Health: Cold hands and feet

advertisement | advertise on News 12

Features

Focus on Connecticut Focus on Connecticut

Features local, state and federal officials discussing the issues around southwestern Connecticut.

Celebrates African-American culture in southwestern Connecticut. Our Lives

Celebrates African-American culture in southwestern Connecticut.

Each week News 12 Connecticut introduces you to Hometown Hero

News 12 highlights people who give to the community.

We spotlight a local team each week. Connecticut Team of the Week

Each week News 12 Connecticut highlights a team from a local school.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE