(Reuters) – Michael Steinberg, a portfolio manager at SAC Capital Advisors, was arrested by the Federal Bureau of Investigation at his residence in New York City early Friday morning in connection with an insider trading investigation, a FBI spokesman said.
Federal prosecutors were close to indicting Steinberg on charges that he traded on inside information on Dell Inc (DELL.O) stock, sources close to the matter said on Thursday.
(This version of the story was corrected to remove the word “former” from headline and paragraph one.)
SAC Capital portfolio manager Steinberg arrested in NY: FBI
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