The hedge fund operated by embattled billionaire Steven A. Cohen was hit with white-collar criminal charges on Thursday that accused the fund of making hundreds of millions of dollars illegally, while a related government lawsuit said insider trading was pervasive and unprecedented at the firm.
SAC Capital Advisors was charged in federal court in Manhattan in an indictment with wire fraud and four counts of securities fraud; prosecutors allege the crimes were carried out from 1999 through at least 2010.
