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Gasparino: SEC, DOJ Still Have Cohen in Their Sights

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  • Description

    FBN's Charlie Gasparino breaks down the latest on SAC Capital.

  • Duration 3:38
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This transcript is automatically generated

And -- hello everybody SEC capital were set to be an address we're following last week's settlement of insider trading charges but should -- be.

Fox Business senior correspondent Charlie Gasparino happily I'm gonna say no but I -- want to make one point just kind of a clarification from last week to discuss the phone Goldman Sachs.

Their main contention when we did the story about me and -- The porn company raise aggregate here and the alleged piracy the company commits -- piracy.

That they were financed by a company.

Affiliated with Goldman we should point out that this is not a company.

That is owned by -- anyway people to get this is -- they capital started by former Goldman Sachs executives just wanna make that clear so Goldman can just.

In a way keep -- in their pants a little bit here so.

Just they just went off to it's it's so much better with check out this stuff out there are voices were to a point they just went off the charts on -- I just wanna keep that in mind.

This is not an affiliated directly -- a former Goldman executives now let's turn.

To Steve Cohen this is that -- interest in case because I would say the street is divided on the settlement 614 million dollars paid by SEC capital and and one of its affiliates to essentially settle SEC charges.

That the firm that Matthew -- Toma and the firm basically committed insider trading on the trading of -- we wait wait stock back in 2008.

-- -- to give you a little bit of information which -- just found that today number one.

As there where there wasn't like a lot of time for the S support for calling and SEC.

To respond to wells -- -- the official those that the commission is thinking about charging new data come back and say here's why you should charges they just launched right into settlement negotiations very -- Clearly shows that Steve Cohen and SEC capital want to get this matter behind him get him.

Beyond affairs and the reason is because.

I get Davis yes he wasn't named in the settlement.

He says he's done nothing wrong but the feds are still still trying to make a case against him it's very serious -- Steve -- Here's what we know what they're trying to do is -- -- people around him you hear a lot of talk about Michael Steinberg former top executive -- And SEC may you may not be indicted he's now an unindicted co conspirator.

Is part of another case that they bring involved in -- shares of Dell that's a name that keep we keep hearing could be.

On the block ready to go in terms of an indictment very soon his lawyer -- -- boy announces he's done nothing wrong but this is clearly a case of the as of the SEC and DOJ is what regulatory sources.

I told the Fox Business Network picking wolf people around -- In order to get the main guy what do you describing to us is that this is not unlike any mob case.

When you go if you going after the guy at the top.

-- -- guys around him you'll hope one guy flips we should point out that there's a lot of locals about the -- -- case Matthew -- Toma.

This this stuff occurred that there are looking at in 2008 that there's a statute of limitation.

On it for them to bring charges against column because it occurred in 2008.

I've talked a lot of lawyers there said they they say they're -- to extend that statute of limitations.

So you know if you think -- that you know if come July where a lot people say the statue limitations runs out.

In terms of bringing it additional charges come July there's no case against -- on this.

Well I hear there's waste to extend that so don't don't necessarily count on that statue of limitations but that's where we are right now I would say this.

-- is innocent to proven guilty I have I know Steve -- like and I I don't know that he's done anything illegal.

I can tell you that the Fed's -- the people at the DOJ and the SEC believe.

That he's involved in this stuff.

And they are going up from by picking off people -- around him and that's what they think.

I don't think that they think that -- thank you so much I guess ramp for stuff.

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