SAC Capital Arrest: Michael Steinberg Indicted on Insider Trading Charges (Video)
The U.S. government's wide-ranging insider trading probe of SAC Capital Advisors put increased pressure on founder Steve Cohen Friday, arresting principal manager Michael Steinberg. A high-ranking portfolio manager who handled technology, media and telecommunications stocks at the firm, Steinberg was indicted by a federal grand jury on four counts of securities fraud and one count of conspiracy to commit securities fraud, the authorities said. He is 41 years old.