U.S. to announce criminal charges against SAC Capital on Thursday: source

Wed Jul 24, 2013 5:07pm EDT
 
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NEW YORK (Reuters) - U.S. prosecutors are planning to announce criminal charges on Thursday against Steven A. Cohen's hedge fund SAC Capital Advisors, a source familiar with the matter said on Wednesday.

The charges will be wire fraud and securities fraud, according to the source.

A spokesman for the Federal Bureau of Investigation declined to comment. A spokeswoman for U.S. Attorney Preet Bharara declined to comment. A spokesman for SAC Capital declined to comment.

(Reporting By Matthew Goldstein)