Wednesday, 1 April 2015
Last updated 1 hour ago
May 16 2014 | 10:20am ET
Former SAC Capital Advisors trader Michael Steinberg, the highest-ranking employee of that firm to be convicted of insider trading, will learn his punishment for those crimes today.
Steinberg will be sentenced today, after U.S. District Judge Richard Sullivan rejected his bid to have his December conviction thrown out. "On the facts presented at trial, a rational jury could find that he knew or was willfully blind to the fact that the tippers breached duties of trust and confidence by disclosing material nonpublic information for their personal benefits," Sullivan wrote.
Prosecutors are seeking up to six-and-a-half years in prison for Steinberg, while the former hedge fund manager's own lawyers have asked for no more than two years. To the latter end, supporters have submitted letters to Sullivan—known as a harsh sentencer—emphasizing Steinberg's philanthropy in hopes of leniency.
"Michael has made a difference in the lives of so many," Felicia Herman, who heads a Jewish and Israeli cultural foundation co-founded by Steinberg, wrote.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…