The prosecutors with SAC Capital in their crosshairs

Sun Nov 17, 2013 9:06am EST
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By Bernard Vaughan and Joseph Ax

NEW YORK (Reuters) - When U.S. Attorney Preet Bharara announced at a televised press conference on November 4 that Steven A. Cohen's SAC Capital Advisors would plead guilty to insider trading, two prosecutors stood quietly to his right.

In coming weeks those two assistant U.S. attorneys, Antonia Apps and Arlo Devlin-Brown, will get their turn in the spotlight as they prosecute the first two SAC Capital employees to go to trial.

Both Harvard Law School graduates in their 40s, Apps and Devlin-Brown traveled different paths to the Justice Department, where they have employed notably dissimilar styles.

Apps, an Australian native and former national-caliber figure skater in the United States, flipped the usual career trajectory on its head by abandoning a lucrative partnership in private practice to become a government lawyer.

Devlin-Brown, whose understated courtroom demeanor belies his past as a national collegiate debate champion, made his mark by successfully leading the office's 2011 crackdown on online poker companies.

This week, Apps will begin trying the government's case against former SAC fund manager Michael Steinberg, while Devlin-Brown goes to trial in January against another former manager at the hedge fund, Mathew Martoma.

Apps and Devlin-Brown, together with fellow prosecutor John Zach, have led the government's criminal case against SAC Capital, the crown jewel in a broad insider trading probe that has netted 76 individual convictions since 2009.

In addition to its guilty plea, SAC - a Connecticut firm that managed $14 billion before investors began withdrawing their money - will pay $1.2 billion to resolve both criminal and civil claims and wind down its advisory business.   Continued...

United States Attorney Preet Bharara (R) speaks during a news conference in New York, July 25, 2013. REUTERS/Mike Segar