By Daniel Beekman
NEW YORK DAILY NEWS
Monday, November 4, 2013, 10:26 AM
Manhattan U.S. Attorney Preet Bharara (click here) will make a formal announcement Monday afternoon alongside FBI officials, his office said. His office says SAC has agreed to shell out $1.8 billion, plead guilty to all criminal charges and shutter its investment advisory business....
...Prosecutors said SAC made "hundreds of millions of dollars of illegal profits" from 1999 to 2010 by recruiting employees with trade secrets to share....
...New York FBI head George Venizelos said "SAC not only tolerated cheating, it encouraged it."
Cohen, 57, coughed up about $20 million for a 4% stake in the Mets last year. He founded SAC in 1992 and at one point the hedge fund managed $15 billion in assets....
