Rabbi Pleads Guilty To Blackmailing Steve Cohen

According to Business Insider, a Brooklyn rabbi who blackmailed hedge fund manager Steve Cohen has plead guilty yesterday. His lawyer made a very interesting defense, saying that he simply did it because the SAC Capital founder was "Jewish and ... rich." The lawyer further added, “He merely engaged in a stupid plan... You want to find him guilty for using bad judgment? For that, we plead guilty today." Allegedly, this past winter the rabbi contacted the hedge fund manager, saying that someone he was counseling knew about an instance of SAC Capital's insider trading. The rabbi offered to keep quiet if the hedge fund made two $2 million donations to two Brooklyn schools, the Bais Yaakov school and one another school. To read the full article, please

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