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... the ... forty Key used the sprawling insider trading investigation this morning ... early today Federal Bureau of Investigation agents arrested a longtime Assisi capital portfolio manager ... on tree insider trading charges right now you're looking ... at raw footage that the Wall Street Journal's Jenny Strasburg shot this morning ... she was there I doubt the perp walk when when Mr. Steinberg was arrested ... and den e joins us now ... Jenny let's let's get some of the de tails here for folks in the first even before we get to that school is described the scene this morning ... so this was about that ... bed rest son will ... be taken out of this building Mr. Steinberg a spot of of the spelling by FBI agents about six o'clock you know still dark count on ... he was quickly cut into the car ... and he was at his hands cuffed and I ... you know it all was pretty quick Spars I can see there were in the building before that obviously designed ... so you know he's a sixteen year veteran of ... of Assisi capital ... and of the most senior person to have been addressed and we have not seen Chargers yet so we don't we haven't seen ... any filings from the U S firms often so ... you know we're waiting This ... later to expect in those later today what what do we know we know he's been on leave since September ... around that time an analyst is his ... was quickly guilty to ... insider trading charges with respect to the US does well John worked at Dell and in it yet and that ... so we have identified ... Michael Steinberg in the pack in pass coverage as ... the person who ... I actually ... traded on an omen ... some of these some these based on steps that for about another hedge fund managers provide and ... and allegedly you know with millions of dollars in illicit profits so and ... as you noted breed type before you know his lawyer says ... Mr. sunburst lawyer says he's done nothing wrong and that he's just in time and we can retire them in his his lawyer Barry Burke says quote ... Michael Steinberg did actually nothing wrong ... history decisions were based on detailed analysis and information he understood had improperly obtained ... through the types of channels that institutional investors rely upon on a daily ... basis ... now ... Eva is it so that said ... let's talk about Assisi from Oma know we we have to be clear that Mr Collins Steve Cullen The head of the supposition is that something cute of wrongdoing ... now the firm just paid ... two weeks ago six hundred and sixteen million dollars to settle degree in civil charges without without admitting or denying wrongdoing one right things ... but to settle charges with the SEC's civil charges now it ... is so they're paying to settle civil charges a mean you describe for us ... the barriers ... level one and all I mean it ... is not ... that I'm so going to come in on several investigation and the civil charges ... that civil settlement which adds a federal judge said yesterday he needs more time to evaluate that NZ ... you know there's the whole thing out that has been going on with other SEC's sentiments regarding the ... note in Iowa or admission of wrongdoing so ... that's still hanging in the balance there but yes you know Mr. Steinberg is ... is the rest really shows how the government continues to try to reach into the higher ranks of Assisi capital what's what's the total number of Assisi employ the plague the inner half a dozen have have aam for cooperating with authorities ... have been have been resolutely were our pleaded guilty so ... you know ... they're there are ... a you know and there are other pieces that are ... happening under the surface but it's you know ... obviously don't wanna go beyond what we know as fact but ... even if the government ... seeks Mr. Steinberg to cooperate in now in its well they will see that ... you know um and he sees that as an important potential witness again Steve Cullen but you know ... so have other then ... that people been seen as backing and Selina very very hard physics us it seems is clear that are good remain Steve Collins oh yes and in charge of anything the Xyrem ... remains it seems the target of this life there's no doubt the government's interest than the man who sells the money in the firm and peanuts a fifteen billion dollar hedge fund in ... which that money is a long sustained Telenet and how much money had as a CC last at this point as outside investors were move from the fund amidst all seen South ... African through her out ... investors asked to undo of one point seven billion so ... you know that there's obviously a lot of money left in announce that one option out at once but some of that is due to come out this week in fact I were the end of this month ... I ... but ... you know that that you can follow your money out at once and they still have a ton of money that's not outside investors so ... that's not seen as ... any kind of like it ... and adjust now let me in anyway knowing ... and the settlement was seen as ... a move in the right direction SAC said ... what we wanna put this behind us know obviously this morning suppressant Michael Steinberg ... is a new developments ... on which we had previously reported you know was expecting but now it's happened ... and think you so much for taking on ten minutes out of your very busy morning to come up and catches up on notice in the first week we will be it will be all over the storied Wall Street Journal will be so stay with WS J live