Sac Capital, the hedge fund giant run by Steven Cohen, put portfolio manager Michael Steinberg on paid leave after his former analyst, Jon Horvath, pleaded guilty for his role in an insider-trading scheme, The Post has learned.
Steinberg, 40, had been named as an unindicted co-conspirator shortly before Horvath pleaded guilty on Friday and agreed to cooperate with authorities.
Steinberg, who works at SAC unit Sigma Capital, didn’t return a request for comment.
His lawyer, Barry Berke, declined to comment.
Horvath was set to go on trial on Oct. 29 along with two other alleged co-conspirators, Anthony Chiasson, co-founder of Level Global, and Todd Newman, a former fund manager with hedge fund Diamondback.
Prosecutors accused the three of illegal trading in a $62 million scheme that involved trades of computer maker Dell and Nvidia. They were arrested in January along with four others who have since pleaded guilty.
Horvath, 42, had also been on leave before pleading guilty but has since been terminated, sources said.