The probe into possible insider trading continues with U.S. authorities looking at a number of hedge funds, including at least one individual at SAC Capital, a source familiar with the matter tells CNBC.
This comes on the heels of the conviction of a former SAC Capital portfolio manager, Mathew Martoma, who was found guilty on all charges of insider trading. Martoma is the eighth current or former SAC employee who has been convicted or pleaded guilty to insider trading charges since 2009, the year Preet Bharara took office as the U.S. attorney for the Southern District of Manhattan.
Prosecutors have a spotless track record for insider trading convictions under Bharara's leadership, successfully convicting 79 individuals.
During Martoma's trial, it was revealed that the founder or SAC Capital, Steve Cohen, was the government's main target in the insider trading investigation. The prosecution's key witness, Dr. Sidney Gilman, testified that when he was first approached by the FBI in September 2011, the agents interviewing him said he "was only a grain of sand, as is Mr. Martoma," and that "they were really after a man named Steven A. Cohen".