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As the government races against the clock to convict SEC capital founder Steve Cohen met the government continues to scramble to build evidence.
Against the former SEC capital employees Matthew Mark -- -- -- they don't they don't have it yet.
We should point obviously we should point out something that Rudy Giuliani said -- -- that I thought is -- it was pretty interest in and newsworthy.
Is that you know -- -- the former US attorney the guy that you know made his mark on bringing insider trading cases and all sorts of crime provoke -- suppose -- the mob.
And the mob on Wall Street so to speak he said they probably don't have a case.
And here's I was I can't predict the future here but I can tell you this what my sources assaying of these resources largely in the defense -- with -- -- -- this.
They don't believe they have a case -- why is that because they are looking to bring more charges against Matthew Mark -- already indicted.
But they want more charged against the trying to get other witnesses to provide evidence is what what would sources -- -- the Fox Business Network to sort of build up may be superseding indictment against march -- but -- add more charges why they wanna do that.
They want to pressure more Toma essentially to do what he's not doing now that -- flipped against Steve Colin.
So they had the evidence they had the evidence against Colin if -- tone was ready to cooperate he thought he was ready to cooperate.
They would be bringing charges and here's the thing.
You can read a lot of paper that must we broke the story they may do Rico charge that's -- that's out there are people talking about some sort of indictment on on charges that calling it willfully ignored potential illegality.
At the firm that's one potentially avenue that they have.
From what I understand that may happen and -- -- not but the best case they know they have.
Is right here with Matthew Mark -- because mark -- as you know.
It's been indicted for insider trading he got insider trade he came after.
A conversation he had which he called -- know that could be traced the phone records they don't know what was -- in that conversation that's -- they need.
Mark Toma the flip of state Colin is ignorance of defense meaning ten's Steve -- -- and say now.
I didn't know what they were doing they were operating what loose -- he can say that but if they believe there's enough evidence that he should have known or did know.
What was going on that he was running an organization that was that was rampant on insider trading.
They can bring one of these willful ignorance cases I will say this though.
SEC trades about what a million dollars million million shares they have some with some astronomical amount of money.
It's you know huge portion of the New York Stock Exchange trading even if you add up all the insider trades that they that they can figure out that he did.
If you go through the years.
Or that other people don't be deployed to at its SEC capital or other convicted -- It's still fairly small percentage of his overall volume Heidi you know this is the sort willful ignorance charges is not easy I'm wondering -- reports in the journal today.
We were among the first report -- her very early on that this was an avenue that they go -- I still think it's very hard their biggest I think the biggest thing here.
Did the best chance is to get someone like Michael Steinberg another former it's a measure of current he's still -- -- on leave or something.
And SEC to give him a -- or -- almost former.
Well you know what let's -- back up a little bit for people who might not be that familiar right SEC.
Steve -- record was absolutely stunning I mean better than Warren Buffett's and you -- -- say for example the Bridgewater guys who never a losing year.
Except for one year 2008 during a financial crisis.
I think mainly unnatural 1996 -- this is what the white -- they say 1996.
So you know 30% return just after his enormous fees -- towards more fees anybody.
It surpasses the markets what you'll see people at the SEC in the Justice Department will say anybody that's that good.
Has to be cheating that's essentially what they believe and that's one of the reasons why Steve -- on the spotlight which also point out though there's 67 and -- Right they don't want to be 67 and won the government yes especially this what this is like your Tom Brady.
-- the New England Patriots you're on the five yard line right do you won every game.
And you need to get over that five yard line to win the Super Bowl but you don't.
And that he yelled losing the Super Bowl and winning every -- it's like losing the war but winning every battle.
It good enough that it's better not to go there and that's a possibility Charlie thank you once again exclusive aspects of this story continues thank you closing.