Federal investigators hoped that SAC Capital’s tech analyst Jon Horvath would provide evidence that would help them nail the $14 billion hedge fund on insider-trading charges, Horvath told a jury in federal court in Manhattan Wednesday.
Prosecutors also indicated that the government hoped to gain information from Horvath to charge SAC Capital founder Steve Cohen, but jurors weren’t allowed to hear it.
Horvath, who pled guilty to conspiracy and insider trading, ended his nine days of testimony against Michael Steinberg, the most senior SAC executive to be charged with insider trading.
Six former SAC employees have either confessed or were found guilty.
SAC itself pleaded guilty to five counts of securities and wire fraud days before the Steinberg trial began.