When the Feds Went After the Hedge-Fund Legend Steven A. Cohen

One day in early 2013, Preet Bharara, the U.S. Attorney for the Southern District of New York, met with his deputy, Richard Zabel, about one of the biggest cases of his career—a crackdown on insider trading in the hedge-fund industry. Although the financial crisis had receded, popular rage against Wall Street bankers and traders was still strong; most Americans had seen their incomes stagnate while the fortunes of the wealthiest continued to swell. For the previous few years, Bharara and...

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