PETER LATTMAN AND BEN PROTESS, DealBook
Submitted by: Tracey Hawkins
SAC Capital Finally Indicted For Fraud
[DealBook] Calling SAC “a veritable magnet of market cheaters,” federal prosecutors announced criminal charges against the hedge fund on Thursday, a rare move against a large company that could threaten its survival. The authorities argued that the firm and its units permitted a “systematic” insider trading scheme to unfold from 1999 to 2010, activity that generated hundreds of millions of dollars in profit for the firm, owned by its founder, the billionaire stock picker Steven A. Cohen.