The Wall Street Journal is reporting that three senior SAC Capital executives received subpoenas as part of the insider trading investigation of the hedge fund.
Those who received subpoenas were Thomas Conheeney, SAC’s president; Steven Kessler, the chief compliance officer; and Phillipp Villhauer, the head of trading, unnamed sources told the Journal.
They are all viewed as part of Steve Cohen’s inner circle, the report said. They have not been accused or charged with any wrongdoing.
The New York Times reported that last week that Cohen and others at the firm also received subpoenas to testify before a grand jury.
It’s well-known that Cohen, who runs $14 billion Stamford, Connecticut-based SAC Capital, is the ultimate target of the government in their crackdown on insider trading.
In the case against former SAC portfolio manager Mathew Martoma, Cohen has been identified as “Portfolio Manager A.” Even though he has been implicated, he has not been charged with any wrongdoing. He may never be charged and he has maintained that he acted appropriately.
What’s more, is under the statute of limitations for insider trading, if the government were going to file any additional charges in this case they would have to do so by mid-July, which is the five year anniversary of the trades in question.