Statement Of Manhattan U.S. Attorney Preet Bharara On The Indictment Of Hedge Fund Portfolio Manager Michael Steinberg On Insider Trading Charges

The following press release was published by the U.S. Department of Justice, Office of the United States Attorneys on March 29, 2013. It is reproduced in full below.

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“As alleged, Michael Steinberg was another Wall Street insider who fed off a corrupt grapevine of proprietary and confidential information cultivated by other professionals who made their own rules to make money. With lightning speed in at least one case, Mr. Steinberg seized on the opportunity to cash in and tried to keep his crime quiet, as charged in the Indictment. As alleged, where once Mr. Steinberg answered only to his own rules, now he will have to answer to the rule of law, like so many others before him."

Michael Steinberg Indictment Statement-US Attorney Preet Bharara Audio 3.29.13 (mp3)

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Source: U.S. Department of Justice, Office of the United States Attorneys