GASPARINO: Steve Cohen Is Telling Friends That He's Resigned To Running A Family Office Hedge Fund

This just in from Fox Business Network’s senior correspondent Charlie Gasparino

Back in July, Cohen’s $US14 billion SAC Capital Advisors was hit with criminal charges of insider trading.

U.S. prosecutors charged SAC “with criminal responsibility for insider trading offenses committed by numerous employees and made possible by institutional practices that encouraged the widespread solicitation and use of illegal inside information,” the indictment stated.

Two of SAC’s former portfolio managers have insider trading trials coming up in November.

The SEC also civilly charged Cohen last month with failing to supervise the two portfolio managers.

Cohen, 57, launched SAC in 1992. The hedge fund employs about 900 people worldwide.

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