Despite the clouds looming over billionaire Steve Cohen for “rampant insider trading,” he appears as cozy as ever with New York Mets owner Fred Wilpon.
Cohen and Wilpon both shelled out money to sponsor a baseball exhibit now on display at the National Museum of American Jewish History in Philadelphia, according to the museum’s Web site.
Questions have arisen over whether Cohen’s recent legal woes might force him to sell his minority stake in the Mets. After all, the baseball empire was recently burned by its ties to Bernard Madoff, another troubled hedge-fund manager.
But Cohen and Wilpon’s names are at the top of the lineup card of sponsors on display at the exhibit, titled “Chasing Dreams: Baseball and Becoming American” — suggesting there’s a kindred spirit.
Cohen’s hedge fund, SAC Capital, pleaded guilty to insider trading last November and agreed to a $1.2 billion fine. SAC has since been renamed Point72 Asset Management.
Eight SAC employees have pleaded guilty or been convicted of insider trading since the government’s crackdown kicked off in 2009.