While the world of Wall Street may seem far away to most, Sheelah Kolhatkar, former hedge fund analyst and author of Black Edge: Inside information, dirty money and the quest to bring down the most wanted man on Wall Street, says that it is closer to our lives than you may think. Her nonfiction book traces the story of the FBI and Department of Justice’s recent investigation of Steve Cohen and his company SAC Capital for insider trading.
Following the story from the beginning, Kolhatkar explains how one of Wall Street’s most influential men, who came from a middle-class background and rose to enormous self-made wealth, may have been involved with the insider trading in hedge funds that is rampant on Wall Street today. While many put a portion of their retirement money into stocks, they don’t realize that there is often an uneven playing field with the wealthy insiders having their own rules and market.
The FBI cracked down on this crime using wiretaps and informants and arrested two of Cohen’s employees at SAC Capital. Cohen himself escaped indictment, but his company agreed to plead guilty to insider trading charges and submit to various restrictions from the government. Kolhatkar encourages readers to be mindful of potential corruption on Wall Street and how it could be affecting your personal finances.
To learn more about financial corruption and the SAC Capital investigation, visit the link below or purchase a copy of Kolhatkar’s book.
- Sheelah Kolhatkar, author of Black Edge: Inside information, dirty money and the quest to bring down the most wanted man on Wall Street
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