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SAC Capital Scandal Getting Even Deeper

January 9th, 2013 · No Comments

Wow, the SAC Capital story isn’t going away any time soon.

The latest:

Wesley Wang, a former analyst for SAC Capital Advisors LP’s Sigma Capital unit, gave federal agents the names of about 20 people he said had traded on illegal inside information, some of whom are uncharged targets of the government’s investigation, U.S. prosecutors said.

-SNIP-

“Wang has also identified a number of individuals involved in insider trading whom the FBI has not yet approached and/or whom the government has not yet charged,” Assistant U.S. Attorneys Christopher LaVigne and Jillian Berman said in the letter to U.S. District Judge Jed Rakoff in Manhattan. Parts of the letter were redacted. “These individuals have been identified as subjects of criminal investigations,” they wrote.

Since Kentucky Retirement Systems has $400 million in Blackstone, one can assume their SAC exposure is, oh, somewhere between $10 and $40 million.

One can also assume the fallout will include a black cloud or two over KRS.

Tags: Corruption · Investigation