Prosecutors on Friday for Michael steinberg, A veteran of the portfolio manager Steven a. Cohen, A hedge fund, and insider trading in the tech 2, of the highest level of SAC capital advisors, the staff to be sued the government's long-running probe.
FBI agents rounded steinberg at his home in New York city park avenue, around 6 a.m. EDT (1000 GMT). Steinberg, wearing a blue sweater, admits that "not guilty" charged with securities fraud and conspiracy to commit securities, when he appeared in the late morning arraigned.
Accused in the bill of prosecution five steinberg, 40, and the use of insider information to buy and sell shares of computer maker dell and chip makers NVIDIA company in 2008 and 2008, the illegal profits of about $1.4 million, Cohen's $1.5 billion hedge fund.
In the related civil charges steinberg, America's securities and exchange commission, according to data Mr. Steinberg to profit and avoid loss of $6.4 million hedge fund.
Barry burke, Steinberg, the company's lawyers said in a statement that his client did not "absolutely wrong," his "trading decisions are based on detailed analysis."
The cost of a tumultuous after 6 months, Cohen, one of the most successful hedge fund trader. It started last November was arrested before SAC, portfolio manager at Matthew Martoma prosecutors as America's biggest insider trading case.
Martoma pleaded not guilty of the charges of an insider trading companies and wyeth, and is said to lead to profits and avoid losses totaling $276 million.
Two weeks ago SAC Capital agreed to pay fines of $6.16 million, dell and Nvidia Martoma investigation and as a result of the alleged improper trading company with the securities and exchange commission to solve transaction charges. SAC is neither admitted nor denied wrongdoing, part of the settlement.
But a federal judge said on Thursday that he kept his decision to approve the deal.
Installation of insider trading investigation, prompted the SAC capital investors submit a redemption notice, quit last month, to $168 million, from Cohen of the company. Some outside investors, including Blackstone Group (Blackstone Group), arrest Steinberg declined to comment.
Cohen, a billionaire, has not been charged with any wrongdoing. A famous art collector, he recently bought Picasso's "Le Reve" hotel, Steve wynn casino boss was $1.55 million, according to the New York times ", bought $60 million in the seaside, the home in east Hampton, New York
$3 million of bonds
Steinberg is nine have been charge or current or former employees involved in insider trading, while in Cohen's 20 years of hedge fund SAC capital.
Before his arrest has been widely expected after the SAC analyst Jon horvath, according to reports, Mr Steinberg, pleaded guilty last year to use illegally obtained information of dell. Horvath has cooperation with the government, and has set up a huge steinberg.
Steinberg suspended from his post last fall in SAC capital Sigma capital group, and keep the paid vacation.
SAC capital spokesman Jonathan Gasthalter said: "Michael has been underway for their professional and ethical in his long tenure in the company, we believe that he is a man of integrity."
Prosecutors, steinberg said the potential weaknesses of dell's earnings, in August 2008, the personal computer manufacturer prior to the announcement of the performance of the insider information E-mail.
Federal authorities compete unfair trade, and is mainly concerned with short positions by steinberg and derivatives trading. Happened in August 2008, dell's shares, involving industry, and in the NVIDIA trading took place in May 2009.
The SEC complaint says, in dell's trading is composed of a navigation sinking fly combination is referred to as the SAC of choice. Who is familiar with the SAC to choose that it using computer-driven trading strategies, trading some of the SAC Capital portfolio manager.
Steinberg complaints made no mention of Cohen, the different proposed for Martoma in criminal and civil cases, this is the first time that the authorities referred to his "owner" of hedge funds.
Steinberg has in recent weeks in New York city hotels, more mobile, according to a Reuters source, because he wants to avoid being arrested, he lives with his wife and two children on his sunshine club.
Arraigned before, U.S. district judge Richard Sullivan (Friday) in lower Manhattan in the morning, he was released after agreed to release $3 million in bonds, which is $1 million in assets as collateral.
In the lawsuit, federal prosecutors said, in Mr Steinberg accused of hedge fund delivered without a search warrant.
In announcing $6.16 million settlement with SAC capital, a lawyer with the U.S. securities and exchange commission put forward a clear agreement does not preclude further or other transaction costs for individuals in SAC capital, still need to investigate. Part of the settlement, SAC Capital agreed to pay $14 million to resolve charges of improper trading dell.
On Thursday, the federal district judge review Elan and wyeth, now part of Pfizer's solution involves the part of the deal, he said he was keep the decision right now.
, south of the United States district court in New York, United States v. steinberg, # 12 - CR - 121, and the securities and exchange commission v. steinberg number 13-2082.
 



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