No wiretaps. No smoking-gun emails. And a star witness who was testifying to avoid prison.
All that, and yet a federal jury convicted Michael S. Steinberg, a former top trader at SAC Capital, of five counts of insider trading. It was the biggest victory yet in the government’s crackdown on some of Wall Street’s most vaunted hedge funds, DealBook’s Ben Protess, Matthew Goldstein and Alexandra Stevenson write.