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Would-be Mets, Dodgers or Padres owner Steven Cohen implicated in insider trading scheme

Nov 21, 2012, 3:50 PM EDT

Hedge fund manager Cohen, founder and chairman of SAC Capital Advisors, responds to a question during an interview at the SALT Conference in Las Vegas

Remember Steven Cohen?  He’s the billionaire hedge fund guy who (a) bought a minority interest in the Mets; then (b) tried to buy the Dodgers; and (c) turned south to San Diego and the Padres when that didn’t work?

Unlucky for him that he couldn’t become a baseball owner no matter how hard he tried.  Not so unlucky for Major League Baseball:

U.S. officials for the first time Tuesday implicated Steven A. Cohen, the founder of SAC Capital Advisors LP, in an alleged insider-trading scheme they said was the most lucrative ever to be charged.

Traders in his firm had been tied up with this for a while, but he had been said not to have had any part in it.  Cohen is not a defendant in the case, but he’s now mentioned in the criminal complaint as “Investor A” and will likely be a big part of the criminal prosecution coming out of this mess.

Can you imagine if he had got the Dodgers and couldn’t make it to some owners meeting because of a criminal subpoena? Yeah, that woulda been awesome.

  1. kkolchak - Nov 21, 2012 at 4:02 PM

    He and Loria would have made perfect ownership soul mates.

    • historiophiliac - Nov 21, 2012 at 4:20 PM

      Hey, don’t forget McCourt!

    • Old Gator - Nov 21, 2012 at 5:29 PM

      Dammit – I take a nap at the end if a hard day slaving over a hot oven, and someone grabs my line.

  2. chill1184 - Nov 21, 2012 at 4:07 PM

    Insider trading really shouldnt be a crime

    http://lewrockwell.com/casey/casey85.1.html

    http://www.lewrockwell.com/north/north964.html

    http://www.lewrockwell.com/orig4/mcdowell1.html

  3. alexo0 - Nov 21, 2012 at 4:15 PM

    For Selig’s sake, I wish his ownership dreams had worked out.

  4. tfbuckfutter - Nov 21, 2012 at 4:25 PM

    I find it hard to believe someone with a lot of money would act unscrupulously in an effort to gain even MORE money.

    That’s like a guy who has a lot of pants going out and stealing pants. How many pairs of pants can you wear at one time?

    • katra2logic - Nov 21, 2012 at 6:47 PM

      The same guy is stealing yours pants at this moment….

  5. vallewho - Nov 21, 2012 at 5:08 PM

    oh Stevie…

  6. aarontzach - Nov 21, 2012 at 5:10 PM

    “Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.”

    ― Adam Smith, The Wealth of Nations: An Inquiry into the Nature & Causes of the Wealth of Nations

  7. Gardenhire's Cat - Nov 21, 2012 at 5:10 PM

    Fred Wilpon 2.0

  8. cowboysoldiertx - Nov 21, 2012 at 8:48 PM

    Thats why I only trade cattle.

  9. mtr75 - Jan 7, 2013 at 1:49 PM

    I don’t know, I’d take a Mets owner that fraudulently MADE money over the Wilpons any day.

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