Assistant US Attorney Arlo Devlin-Brown said in a letter to judge Brenda P. Murray yesterday that the administrative proceeding of SAC Capital Advisors LP founder Steven A. Cohen should be on hold until all criminal cases of his employees have been resolved.
Lawyer Richard Strassberg for defendant former SAC Capital Advisors LP hedge fund manager Mathew Martoma has asked a federal judge to give a reduced sentence to the former trader considering that other defendants had only received jail terms of at least two years, Bloomberg reported.
The recent approval of the $900 million the US government wishes to impose on former SAC Capital Advisors LP would mark the end of the prosecution and money laundering lawsuit brought by the office of Manhattan US Attorney Preet Bharara, Bloomberg said.
Assistant US attorneys have submitted a motion for presiding US District Judge Laura Taylor Swain to give her approval to the $900 million it is seeking to impose on SAC Capital Advisors LP as part of their agreement to settle insider trading charges.
