Nov 21, 2012, 3:50 PM EDT
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.
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