Hedge fund SAC fined record $1.8 bn for insider trading

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

“2011 and Beyond” - What you are seeing, and why - Jan 16, 2011 (Kryon channelled by Lee Carroll) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

"The Great Escape" - Mar 11, 2017 (Kryon Channelling by Lee Carroll)

“… The Fall of Many - Seen It Yet?

You are going to see more and more personal secrets being revealed about persons in high places of popularity or government. It will seem like an epidemic of non-integrity! But what is happening is exactly what we have been teaching. The new energy has light that will expose the darkness of things that are not commensurate with integrity. They have always been there, and they were kept from being seen by many who keep secrets in the dark. Seen the change yet?

In order to get to a more stable future, you will have to go through gyrations of dark and light. What this means is that the dark is going to be revealed and push back at you. It will eventually lose. We told you this. That's what you're here for is to help those around you who don't see an escape from the past. They didn't get their nuclear war, but everything else is going into the dumper anyway. … “

Monday, November 4, 2013

Hedge fund SAC fined record $1.8 bn for insider trading

Google – AFP, 4 November 2013

Preet Bharara, United States Attorney for the Southern District of New York speaks

at a news conference July 25, 2013 about a federal indictment against SAC Capital

(AFP/File, Timothy Clary)

New York City — Giant hedge fund SAC Capital has agreed to plead guilty to criminal charges of insider trading and pay $1.8 billion to settle them, the US Attorney's office announced Monday.

It was the largest-ever insider trading fine, the government said, and will force SAC, once a Wall Street powerhouse run by multi-billionaire Steven A. Cohen, out of the investment advisory business permanently.

US Attorney Preet Bharara characterized the penalties as "steep but fair" and "commensurate with the breadth and duration of the charged criminal conduct," according to a plea agreement filed with the New York federal district court. The settlement must be approved by federal judges.

"Sometimes blameworthy institutions need to be held accountable too," Bharara told a news conference. "No institution should rest easy in the belief that it is too big to jail."

Bharara said the settlement resolves the case against SAC as a company but that the investigation continues into additional individuals involved in the case. The comments imply that Cohen remains potentially at risk of future prosecution.

Six former SAC employees have already pleaded guilty to insider trading in the same investigation, while two others, Michael Steinberg and Mathew Martoma, are fighting charges that they traded stocks for the company based on insider tips they received.

An SAC statement said the firm takes "responsibility for the handful of men who pleaded guilty and whose conduct gave rise to SAC's liability."

"The tiny fraction of wrongdoers does not represent the 3,000 honest men and women who have worked at the firm during the past 21 years," it said.

"SAC has never encouraged, promoted or tolerated insider trading."

The Justice Department's criminal indictment in July alleged SAC ran a broad system of insider trading in which analysts were recruited for their access to company insiders and were encouraged to trade for profit at all costs.

The transactions involved trading stocks of technology, pharmaceutical and other companies based on insider information, netting SAC hundreds of millions of dollars in illegal profits and avoided losses.

In March, SAC agreed to pay $616 million to settle civil insider trading charges. It will get credit for that in Monday's deal, making the net new fine about $1.2 billion.

Cohen grew SAC Capital from a small trading shop into one of the biggest financial players on Wall Street, with $15 billion in assets at its peak.

But since the company's legal troubles erupted, investors have pulled billions in cash out of the company's funds.

Bharara said Monday the fine accounted for 20-25 percent of funds SAC has under management, implying the company still has up to $9 billion under management..

A prominent figure in tony Greenwich, Connecticut where he lives, Cohen is a major investor in art and real estate. He is planning to sell some $80 million in art in upcoming auctions at Sotheby's and Christie's, the New York Times reported.

In the wake of the insider trading crackdown, SAC is expected to attempt to continue to trade Cohen's still-considerable personal funds, permitted under the deal.

Any future trading by SAC defendants will "be required to employ compliance procedures to prevent insider trading" reviewed by a government-overseen independent monitor, Bharara said.

Bharara cited a pending US Securities and Exchange Commission order against Cohen as an additional hurdle in case Cohen seeks to start another hedge fund that would trade investor funds.

The SEC has charged Cohen with failure to supervise Martoma and Steinberg and to prevent them from engaging in insider trading. The agency said possible penalties include a financial fine and a bar from future securities trading.

"The SEC has a pending action against the principal of SAC Capital and that case has not been resolved," Bharara said.

An SEC spokeswoman declined comment.

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Monday, November 4, 2013

Hedge fund SAC fined record $1.8 bn for insider trading

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