How Steve Cohen got away once and why GME might do what the feds couldn't
First post explaining the Panama and Paradise papers:
https://www.reddit.com/r/Superstonk/comments/mx8chw/has_there_been_any_look_at_the_possible/
Second post poking fun at the financial institutions that spent years dodging taxes to save money, lose a bunch of money from the Archegos fallout: https://www.reddit.com/r/Superstonk/comments/mx9zfr/all_the_financial_institutions_getting_hurt_b
Third post explaining how hedge funds evade taxes:
https://www.reddit.com/r/Superstonk/comments/mxf8qo/how_hedge_funds_evaded_taxes_using_the
I looked into it further and found interesting stuff surrounding a certain hedge fund manager, Steve Cohen.
You can read the whole picture above, the highlighted part is just the main takeaway. Source
I'm sure those were just good guesses...
Yes yes, just "rumors." Ignore the entire former hedgefund he used to own which was SHUT DOWN by federal investigators.
The hedge fund he used to manage
Steve founded and was in charge of the hedge fund SAC Capital Advisors. Source
Just when you think there's gonna be justice...
Of course, they were doing more than just what they said. Eventually it caught up to them, or rather, some of them. Steve was able to avoid any charges. The fund itself closed, but as you can see, the man behind it all got away, and was easily just as able to continue.
Well, Well, Well... His new hedge fund, which replaced the one shut down for insider trading, lost 15% thanks to GME.
Not only that, but the CEO of Melvin is a former collogue of Steve. He just happened to "invest" in Melvin, AND CITADEL, when they lost the most money from gamestop. Source
They worked together at the same firm that led to multiple arrests for insider trading. crazy
Edit: accidently posted the same screenshot twice, corrected it now. The screenshot with the caption "pretty lucky" was the same one as the picture above it before.
Posted Apr 25, 2021, 12:21 AM UTC · edited