crimes and misdemeanors

Steve Cohen Partied Through SAC Capital’s Criminal Indictment

Photo: Scott Eells/Bloomberg via Getty Images

Billionaire Steve Cohen’s hedge fund SAC Capital was hit with a five-count criminal indictment on Friday. While some people might see that as a reason to cancel one’s weekend plans, Cohen went ahead with a previously scheduled Saturday night party at his 10-bedroom East Hampton estate, Reuters reports. It makes sense: SAC is pleading not guilty to the sweeping insider-trading charges and employees and investors received a post-indictment e-mail informing them that the firm would continue to operate normally — and nothing says business-as-usual like a “lavish affair … to show support for ovarian cancer research,” complete with what one source identified as a “delivery of $2,000 worth of tuna from a local fish store to Cohen’s home.” Plus, as New York’s Kevin Roose has pointed out in the past, Cohen clearly believes in the concept of YOLO, though in this case it might stand for “You Only Litigate Once.”

Cohen Parties Through SAC’s Criminal Indictment