THE YNOT TIMES

Steven A. Cohen’s Palatial Life Maybe Crumbling to the Ground

2009-12-18T02:37:00.000-08:00

uh oh
The Ex Wife is pissed......

Billinoaire

Steven Cohen

uh oh

The Ex Wife is pissed......

Steven A. Cohen’s Palatial Life Maybe Crumbling to the Ground

Steven A. Cohen's Giant Mansion Might Be Built on Sand
Here is a tip for the super-wealthy: Do not build a ludicrously large mansion if you may someday be accused of racketeering. This mansion will change from a symbol of your stupid wealth to a symbol of your outright stupidity.
The house that reclusive billionaire trader Steven A. Cohen built is 35,000 square-feet. Well, maybe 36,000 now: Last year, Cohen applied for a permit to add 1,000 more. This act of hubris must have angered the gods, because he's in trouble now.
(Cohen's Greenwich, Conn. mansion as it might look to a vengeful god)
The Times is reporting today that Cohen's ex-wife, Patricia, has filed a lawsuit against him. In it, she claims he scammed millions of dollars during their 1988 divorce by hiding money from her—and the IRS—in shady real-estate deals. The suit also accuses Cohen of insider trading. According to the Times Dealbook blog:
She claims in her suit that in 1985, while they were married, Mr. Cohen confessed to her that he received inside information on the takeover of RCA by General Electric. When she asked him if trading on such information would be illegal, Mr. Cohen said that that he knew that the source was a former classmate of his from Wharton. But he obtained the information from a mutual friend, so he was not involved in insider trading.
Also, just sleazy finance-related behavior in general: After Patricia made almost a million dollars through real-estate deals, she claims Steven took the money, placed it in an account in his name and told her she couldn't touch it. This thing is going to be messy. Patricia Cohen's lawyer told the Times, "What I look forward to most is the day when Steve Cohen has to face 12 people on a jury and have to answer for what he did to his former wife." Damn.
And the case will seriously compound Cohen's other recent troubles: He and his company, SAC Capital Advisors, are being eyed by feared FBI investigator B.J. Kang in the case of an insider trading ring involving ex-SAC employees. (Which also encompasses the charming story of Andrew Tong—a trader allegedly forced to perform oral sex on his boss.)
Who knows how Cohen will fare in the lawsuit or the investigation. One thing's for sure: Behind the walls of his huge mansion, Cohen has got to be fuming about the attention this is bringing him. This man is private to the point of neurosis: According to Reuters, "Cohen is so intensely private he hates being photographed and has even bought the rights to some pictures taken by freelancers."
This description of his house from a lengthy 2003 BusinessWeek profile completes the image of the shut-in billionaire who values his privacy as much as he does his wealth:
It is completely obscured from the street by a roughly 12-foot-high wall. Cohen is so secretive that he installed an extensive alarm system that beeps whenever someone walks into a room or out, say acquaintances.
The grounds, which some neighbors call Chelsea Piers — after the mammoth Manhattan sports complex on the Hudson River — include a basketball court that becomes an ice-skating rink in winter, several golf holes, and a bubble-enclosed swimming pool. "For kids, getting invited to the Cohens is one of the most coveted invitations in Greenwich," says a neighbor.
Remember, billionaire readers: It's always those last 1,000 square feet that bring fate crashing terribly down on your head.
Send an email to Adrian Chen, the author of this post, at
Rot13.write('nqevna@tnjxre.pbz');
adrian@gawker.com.
google.load("ads", "1");

Mercedes-Benz's Sexy SLS AMG Ad Campaign

2009-12-18T01:33:00.000-08:00

Mercedes-Benz's Sexy SLS AMG Ad Campaign

Dubai Says Tiger Woods Development Will Proceed as Planned

2009-12-18T01:29:00.000-08:00

Dubai Says Tiger Woods Development Will Proceed as Planned

He is Money in the bank, all he have to do is deal with his wife and that is no crime.
Above it all, just get out your checkbook Tiger and prepare for visitations.

$16.5 Million Warren S120 Sportsyacht from Australia

2009-12-16T02:20:00.000-08:00

$16.5 Million Warren S120 Sportsyacht from Australia

Michael Jackson Opus Goes On Sale

2009-12-16T02:17:00.000-08:00

Michael Jackson Opus Goes On Sale

Tag Heuer Retains Tiger Woods As Brand Ambassador Despite Scandal

2009-12-16T01:49:00.000-08:00

Tag Heuer Retains Tiger Woods As Brand Ambassador Despite Scandal

Sunday Real Estate Round-Up, 12/13/09

2009-12-16T01:48:00.000-08:00

Sunday Real Estate Round-Up, 12/13/09

Billion Dollar Cruise Ship To Be Built In Korea

2009-12-16T01:47:00.000-08:00

Billion Dollar Cruise Ship To Be Built In Korea

Colon Cancer Is Preventable!

2009-12-14T01:41:00.000-08:00

Colon Cancer Is Preventable!

MONEY MONDAY AT THE YNOT TIMES

2009-11-09T00:18:00.001-08:00

MICHELLE AT WORK

MONEY MONDAY AT THE YNOT TIMES

2009-07-27T00:12:00.001-07:00

MICHAEL JACKSON

WE HERE AT YNOT COMMUNICATIONS

MISS YOU AND LOVE YOU

REST IN PEACE AND THANK YOU

MONEY MONDAY AT THE YNOT TIMES

2009-07-27T00:09:00.000-07:00

MICHAEL JACKSONS THRILLER

BY NOW

200MILLION ALBUMS SOLD

MONEY MONDAY AT THE YNOT TIMES

2009-07-27T00:04:00.001-07:00

MICHAEL JACKSON

1958-2009

GONE TO SOON

HIS CREATION

NEVERLAND RANCH

On The Money: Web Extra: Why Netbooks are So Popular - On the Money - Web Extra - CNBC.com

2009-05-31T01:21:00.001-07:00

On The Money: Web Extra: Why Netbooks are So Popular - On the Money - Web Extra - CNBC.com

Shared via AddThis

THINKING THURSDAY AT THE YNOT TIMES

2009-05-29T00:37:00.001-07:00

DR. MARK DEAN

Mark Dean (born March 2, 1957) is an inventor and a computer scientist. He holds three of the nine original IBM patents upon which the IBM PC personal computers were based. He led the team that developed the ISA bus, and he led the design team responsible for creating the first one-gigahertz computer processor chip.
Born in Jefferson City, Tennessee, Dean holds a bachelor's degree in electrical engineering from the University of Tennessee, a master's degree in electrical engineering from Florida Atlantic University and a Ph.D. in electrical engineering from Stanford University.
Dean is the first African-American to become an IBM Fellow which is the highest level of technical excellence at the company. In 1997, he was inducted into the National Inventors Hall of Fame. Currently, he is an IBM Vice President overseeing the company's Almaden Research Center in San Jose, California.
Dean led a team that developed the interior architecture (ISA systems bus) that enables multiple devices, such as modems and printers, to be connected to personal computers.
Dean made history again by leading the design team responsible for creating the first 1-gigahertz processor chip, another significant step in making computers faster and smaller.

IN OTHER WORDS

THIS AMAZING BLACK MAN CREATED

THE MICROPROCESSOR

THE PERSONAL COMPUTER

MONEY MONDAY AT THE YNOT TIMES

2009-05-03T04:46:00.000-07:00

WWW.REGINALDFLEWIS.COM

AMERICAS FIRST BLACK BILLIONAIRE

D.1993

HE IS ALIVE AND WELL WITHIN OUR MINDS

The Legacy of Reginald F. Lewis
Reginald F. Lewis, an entrepreneurial virtuoso, brilliant financier and business manager, left a roster of accomplishments that would compare to those of any great man in history. Talented, shrewd and generous to a fault, Mr. Lewis remains a shining example of what can be achieved if one works hard enough no matter the obstacles placed in one's path. His legend is cemented in his hometown of Baltimore through the Reginald F. Lewis Museum of Maryland African American History and Culture, but his legacy reaches farther and wider than that which can be contained in a brick and mortar structure.

SERENITY SUNDAY AT THE YNOT TIMES

2009-04-26T00:18:00.000-07:00

AFFILIATES GALORE

THIS IS THE MAGAZINE FOR INTERNET ADS

IF YOU WANT TO MAKE MONEY ON YOUR WEBSITES/BLOGS

WWW.REVENUETODAY.COM

THINKING THURSDAY AT THE YNOT TIMES

2009-04-15T22:25:00.001-07:00

WASHINGTON -- President Barack Obama and his wife, Michelle, reported about $2.7 million in income for 2008, mainly from book sales. The first couple paid about $855,000 in federal income taxes.
Their income declined from 2007, when the Obamas reported about $4.1 million, again mostly from books, and paid about $1.4 million in taxes.
"The president sold a lot of books last year, no doubt, and paid a hefty amount in federal income tax," press secretary Robert Gibbs said Wednesday. The first family's effective tax rate was around 31%, down from the 33.7% rate they paid in 2007.

MY MAIN POINT IS, DO YOU SEE WHAT TWO PEOPLE CAN DO TOGETHER

ESPECIALLY WHEN THEY SIT DOWN AND PLAN

JUST THEM TWO,NO DRAMA

PEOPLE PLEASE PLEASE TAKE HEED.

U ALL KNOW WHOM I AM TALKING TO.

MONEY MONDAY AT THE YNOT TIMES

2009-04-13T12:08:00.001-07:00

HOWARD UNIVERSITY

SINCE 1867

EDUCATION IS EVERYTHING

BUT

A FINANCIAL EDUCATION COMES FIRST

HOWARD CAN U THAT AND MORE

SERENITY SUNDAY AT THE YNOT TIMES

2009-03-29T00:57:00.000-07:00

THE OBAMAS

A GUIDE TO GO BY

YES THIS LOVE IS A POWERFUL LOVE

OUR COMMUNITY IS FULL OF LOVE MORE SO THAN WE THINK

LOOKING FOR THIS ARTIST

SATISFYING SATURDAY AT THE YNOT TIMES

2009-03-29T00:51:00.000-07:00

MR. PRESIDENT

PHOTO TAKEN BY PLATON

SATISFYING SATURDAY AT THE YNOT TIMES

2009-03-14T00:17:00.001-07:00

ANNA NICOLE SMITH

ANNA WAS SMARTER THAN PEOPLE THOUGHT

SHE WAS A SUCCESSFUL BUSINESS WOMAN

LETS THINK ABOUT HER GOOD TIMES OK

FINALLY FRIDAY AT THE YNOT TIMES

2009-03-06T03:17:00.000-08:00

THE THRILLER IS BACK

6MILLION PLUS PER SHOW

I WOULD DO A FEW SHOWS TOO

SATISFYING SATURDAY AT THE YNOT TIMES

2009-02-28T00:25:00.001-08:00

MICHELLE OBAMA

POETRY IN MOTION

SATISFYING SATURDAY AT THE YNOT TIMES

2009-02-28T00:19:00.000-08:00

DIDDY HAS DONE WELL

THIS IS ONE OF HIS ESTATES