Tag Archives: trading conspiracy

The billionaire investor Steven A. Cohen and his hedge fund, SAC Capital Advisors, are again in the spotlight over insider trading crimes committed by former employees. Jon Horvath, a onetime technology industry analyst at SAC, pleaded guilty on Friday to insider trading a month before his scheduled trial. He is the fourth former SAC employee to admit to illegal trading while employed at the fund, which manages $14 billion. SAC has been a focus of federal authorities since the government began its crackdown on insider trading at hedge funds five years ago. The admission by Mr. Horvath, who entered his guilty plea in Federal District Court in Manhattan, increases the pressure on the co-defendants in his case: Anthony Chiasson, who was a co-founder of Level Global Investors, and Todd Newman, a portfolio manager at Diamondback Capital Management. Federal prosecutors contend they were part of a seven-person conspiracy — a “circle …