SAC's Cohen says firm cooperating with probe

By @ibtimes on

Hedge fund manager Steven A. Cohen, whose SAC Capital Advisors has drawn scrutiny from prosecutors probing insider trading, said his firm has and will cooperate with all government investigations.

In a rare public appearance at the SkyBridge Alternatives Conference in Las Vegas, Cohen drew gales of laughter when he thanked SkyBridge partner Anthony Scaramucci for asking the softball question about his fund being in the news.

No one likes that kind of media scrutiny, Cohen told conference room packed with some 1,700 managers and investors.

We are a firm of about 850 people. We work hard and we take compliance very seriously. We will cooperate with any and all investigations.

This year, two former SAC Capital employees have pleaded guilty to insider trading, while working for Cohen's $13 billion hedge fund. And while Cohen himself has not been accused of any wrongdoing, Reuters previously has reported that federal investigators have been investigating allegations of wrongful trading at SAC Capital for nearly four years.

(Reporting by Svea Herbst; additional reporting by Matthew Goldstein in New York; editing by Andre Grenon)

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