Michael Steinberg, 41, was arrested at 6 a.m. at his Manhattan home on insider trading charges lodged in an indictment unsealed in U.S. District Court in New York City.

WSJ: SAC Capital portfolio manager arrested in NYC

Michael Steinberg was reportedly staying at hotels away from home because he knew FBI agents could be coming for him and he wanted to avoid upsetting the wife and kids.

FORBES: The Arrest of Michael Steinberg Brings New Dynamic to SAC Investigation

Michael Steinberg, 41, pleaded not guilty Friday, hours after he was arrested at his Manhattan apartment on insider trading charges lodged in an indictment unsealed in U.S. District Court in New York City.

WSJ: SAC Capital portfolio manager arrested in NYC

Last year he bought a radiation center in Santa Monica, Calif. run by Michael Steinberg, a member of an influential trade group that advises Medicare on how to set rates for the latest technologies.

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In fact, only the other week, a SAC Capital Advisors portfolio manager, Michael Steinberg, was indicted on one count of conspiracy to commit securities fraud and four counts of securities fraud purportedly involving Dell Inc. and Nvidia Corp.

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Already, two former SAC Capital traders and an analyst at the hedge fund have pleaded guilty to insider trading, and a former portfolio manager Michael Steinberg has been named as an unindicted co-conspirator, but is yet to be charged.

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I. agents handcuffed SAC Capital portfolio manager Michael Steinberg and escorted him from his Park Avenue apartment, the report, released yesterday, says that more than a third of hedge fund professionals believe they have to break the rules to get ahead.

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It can be argued, of course, that this shows that the rich can buy amenities the poor cannot and, indeed, Paulson is only one of many wealthy members of the Conservancy board (which includes Henry Kravis of Kohlberg Kravis Roberts, Thomas Kempner of Davidson Kempner Capital Management and Michael Steinberg of Steinberg Asset Management).

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