To Catch a Trader

January 7, 2014

FRONTLINE goes inside the dramatic, unprecedented hunt that uncovered vast insider trading at Wall Street hedge funds.

(53:41) FRONTLINE goes inside the hunt that uncovered vast insider trading on Wall Street.



Appeals Court Casts Cloud Over Future of Insider Trading Cases

The reversal of two high-profile insider trading convictions may make it harder for prosecutors to rid the practice on Wall Street.

An Insider Trading Acquittal Hints at New Landscape for Prosecutors

Nothing lasts forever. That’s the lesson federal prosecutors in New York were reminded of this week when their unbeaten streak in a five-year crackdown on insider trading finally came to an end.

Study: Corporate Mergers Overrun By Insider Trading

A jaw-dropping new study of mergers and acquisitions suggests the problem of insider trading is not only pervasive, but also rarely enforced.

SAC’s Michael Steinberg Sentenced to 3.5 Years for Insider Trading

The former SAC Capital trader was sentenced to three-and-a-half years in prison for an insider-trading scheme that allegedly garnered him $1.8 million in illegal profits.

Can Steven Cohen Move On From SAC’s Insider Trading Past?

A judge has approved a guilty plea from SAC Capital Advisors for insider trading, but a civil case now awaits the firm’s billionaire founder, Steven A. Cohen.

Martoma Found Guilty For Historic Insider Trading Scheme

Former SAC Capital portfolio Manager Mathew Martoma has been convicted for what may have been “the most lucrative inside tip of all time.”

The Martoma Trial: Five Things We’ve Learned So Far

From falsified transcripts to a “flabbergasted” witness, Mathew Martoma’s insider trading trial has offered new insights into what authorities call “the most lucrative inside tip of all time.”

How Do You Catch a Trader? Live Chat 1 pm ET Wed. 1/8

Join a live chat on “To Catch a Trader” with producers Martin Smith and Nick Verbitsky, and guest questioner Peter Henning from “DealBook.” You can leave a question now.

Did Steven Cohen Fail to Supervise His Employees?

It’s the question at the heart of a Securities and Exchange Commission lawsuit against the billionaire and founder of hedge fund SAC Capital. Cohen says he’s not to blame. Read his attorneys’ full response.

Turney Duff: “Edge” is What Counts on Wall St., Legal Or Not

As a former hedge fund trader, Turney Duff says he never worried about breaking insider-trading laws. “We’re thinking, this is how it’s done and I need to make money,” he says.

Preet Bharara: Insider Trading Is “Rampant” On Wall Street

The man behind one of the government’s most aggressive crackdowns on insider trading says his problem is not with hedge funds, but with “institutions that decide to make their business model a criminal one.”

Richard Holwell: Why Raj Rajaratnam Got 11 Years in Prison

Raj Rajaratnam gave the impression “that he could live outside the law,” says the federal judge who handed the former Galleon chief an 11-year sentence for insider trading.

SAC In Spotlight As Insider Trading Trial Opens

Mathew Martoma goes on trial today for what’s been called “the most lucrative inside tip of all time,” but his former employer, the hedge fund SAC Capital, is also facing heavy scrutiny.

“Isn’t This Illegal?”

It’s phone calls like the one that Turney Duff took early in his career at the Galleon Group that authorities point to as what’s wrong with the hedge fund industry.

Coming in January on FRONTLINE

Next month, we’ll go inside the government’s insider trading investigation of the hedge fund industry as well as the “Secret State of North Korea.” Plus a pre-Superbowl rebroadcast of our most-talked about film of 2013.

SAC Fund Manager Found Guilty in Insider Trading Case

Michael Steinberg, the most senior employee to face trial in the government’s sweeping investigation into insider trading at the giant hedge fund, has been found guilty on all counts by a federal jury in Manhattan.

Press Release | Inside the Dramatic, Unprecedented Hunt That Uncovered Vast Insider Trading at Wall Street Hedge Funds

FRONTLINE’s Martin Smith goes inside the government’s ongoing, seven-year crackdown on insider trading in the hedge fund industry.

Exclusive: Watch Billionaire Steven Cohen Stumble Over Insider Trading Rules

In a never-before-published video, hedge fund titan Steven A. Cohen, whose firm this week pleaded guilty to securities fraud, describes federal securities laws as “vague,” and asks for an explanation of the basic rule that prohibits insider trading.

Survey: One in Four on Wall Street Open to Insider Trading

If public confidence in Wall Street remains battered from the financial crisis, a new survey of ethics in the financial services industry is unlikely to help.


53:36The Untouchables01/22/2013
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