Terrific story here. FRONTLINE correspondent Martin Smith tells how the US government caught a number of big fund managers for insider trading in an ongoing, seven-year crackdown on such illegal activities.
He drew on exclusively obtained video of hedge fund titan Steven A. Cohen, incriminating FBI wiretaps of other traders, and interviews with both Wall Street and Justice Department insiders.
Steven Cohen was one of the biggest names on Wall Street but his empire crashed in November 2013 when his SAC Capital agreed to plead guilty to securities fraud and end its investment advisory business, as part of a record US$1.8 billion settlement for insider trading.
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