, , , ,

Seal of the U.S. Securities and Exchange Commi...

Exclusive: Watch Billionaire Steven Cohen Stumble Over Insider Trading Rules, by Nick Verbitsky, Martin Smith, and Dan Sugarman, FRONTLINE


In a never-before-published video, hedge fund titan Steven A. Cohen, whose firm this week agreed to plead guilty to securities fraud, describes federal securities laws as “vague,” and asks for an explanation of the basic Securities and Exchange Commission rule that prohibits insider trading.

*         *        *

The video offers a rare glimpse of the secretive billionaire investor at the center of the biggest insider trading prosecution in U.S. history talking about the very issues that have put him and his firm under such intense scrutiny.