New York Observer – Today’s Wall Street Journal reveals a new figure in the Great Hedge Fund Reckoning. His name is Michael Steinberg, and he’s the first current employee of Steve Cohen’s SAC Capital to be named in connection with the FBI’s far-reaching insider trading probe.
According to The Wall Street Journal, the FBI approached expert-networker John “Nuke” Kinnucan and solicited his cooperation in its investigation. Mr. Kinnucan, who has since become a nearly unavoidable presence in the financial-news media, declined the feds’ invitation. Now The Journal says that one of the clients the FBI was after is Mr. Steinberg.
