Court of Appeals for the Second Circuit July 31, 2001, Docket 00-1574 (United States v. Jay Cohen)

KEENAN, District Judge:

BACKGROUND

In 1996, the Defendant, Jay Cohen (“Cohen”) was young, bright, and enjoyed a lucrative position at Group One, a San Francisco firm that traded in options and derivatives. That was not all to last, for by 1996 the Internet revolution was in the speed lane.