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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.

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