In a state with one of the world's highest concentrations of hedge funds, SAC Capital Advisors stands out as one of the biggest, known for bankrolling Stamford's popular Thanksgiving Day parade. The criminal charges announced Thursday against the firm have some fearing for the future of one of the region's larger economic engines.
Prosecutors charged SAC with wire fraud and securities fraud, accusing the Stamford-based company of letting insider trading flourish over a decade and making hundreds of millions of dollars illegally. SAC said it "has never encouraged, promoted or tolerated insider trading and takes its compliance and management obligations seriously."
