Steinberg Wife Asked Supporters Not To Bling It Up In Court

Dec 18 2013 | 11:08am ET

A jury is currently deciding the fate of SAC Capital Advisors portfolio manager Michael Steinberg, and his wife sought during the insider-trading trial to ensure they weren't prejudiced against her millionaire husband.

Before the trial began last month, Liz Steinberg sent an e-mail to friends and supporters, asking them to tone things down if they planned to be in court, the New York Post reports.

"Dress conservatively," she wrote on Nov. 15. "We request that women wear no jewelry or furs, and no designer scarves, handbags, etc." Liz Steinberg served as a model of how not to appear wealthy, with the Post calling her "noticeably dressed down" and "subdued in appearance" during the four-week trial in Manhattan federal court.

Steinberg is accused of illegally trading technology shares and faces decades in prison if he is convicted. To date, prosecutors have an unbroken track record during the recent crackdown on insider trading.

Liz Steinberg, her parents and Steinberg's parents were in court every day. Former Exis Capital chief operating officer Andy Heller and his brother, Sandy, an art adviser to SAC founder Steven Cohen, also attended.

The jury began deliberating yesterday.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR