Schooling in the Ownership Society: Hedge-fund billionaire Cohen big player in charter schools. Fraud scandal could bring him down.

Schooling in the Ownership Society: Hedge-fund billionaire Cohen big player in charter schools. Fraud scandal could bring him down.:

Hedge-fund billionaire Cohen big player in charter schools. Fraud scandal could bring him down.

Whenever I read about some crooked hedge-fund billionaire mired in scandal, I always check to see if and how they're involved with charter schools. I rarely come up empty. The latest is possibly the biggest fish and the dirtiest one in the hedge-fund swamp.

Hedge-funder Steve Cohen

Steve Cohen, whose personal wealth is estimated at close to $10 billion, is the founder of the supposedly too-big- hedge fund,  SAC Capital Advisors. Cohen's firm, which once managed more than $15 billion in assets, is at the center of one of the biggest insider-trading fraud cases in history. Four employees have already been criminally charged with insider trading – two of whom have pleaded guilty. And an SAC affiliate has agreed to pay $615 million to settle SEC charges of insider trading.

Federal prosecutors have served grand jury subpoenas on Cohen and others at