U.S. federal prosecutors are preparing to announce criminal charges on Thursday against the hedge fund of billionaire trader Steven A. Cohen even as they continue seeking ways to build a criminal case him individually, people familiar with the investigation said. Charges of securities fraud and wire fraud expected to be filed against the company, according to a source familiar with the investigation. The New York Times reported that a grand jury voted to approve an indictment against SAC. The indictment will charge SAC with carrying out broad conspiracy through insider trading, the newspaper said, citing people briefed on the case. "Underpinning the charge, the people say, is the theory of corporate criminal liability, which allows the government to attribute certain criminal acts of employees to a company itself," the newspaper said. The charges against Cohen's $15 billion SAC Capital Advisors come after nearly seven years of investigations of his firm on allegations of insider
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