Steven Cohen Throws A Party Despite His Fund's Indictment
Has this guy lost all common sense? Throwing an expensive party in East Hampton two days after your company has felony charges brought against it? Didn't his lawyer have the good sense to tell him to cancel the party? Talk about a guy that is just begging to be taken down.
"By Matthew Goldstein
(Reuters) - Hedge fund billionaire Steven A. Cohen did not let the filing of criminal charges against his $14 billion SAC Capital Advisors get in the way of a party this weekend at his vacation estate in tony East Hampton, New York.
The Saturday night party at Cohen's 10-bedroom home on Further Lane took place two days after federal prosecutors in New York announced a five-count criminal indictment against SAC Capital that portrayed the 21-year-old Stamford, Conn.-based fund as a breeding ground for unlawful insider trading.
The lavish affair, which one source said included delivery of $2,000 worth of tuna from a local fish store to Cohen's home, was planned before the charges were filed. A person familiar with the event said the party, attended by a few dozen people, was intended by the 57-year-old manager to show support for ovarian cancer research, though it was not a fundraiser."
This kind of behavior shows how he thinks. Like Leona Helmsley saying publicly "Only the little people pay taxes" and ending up in jail. it is now clear that the cohen is an imbecile and that most of the gains were due to cheating.