Steven Cohen, the self-pitying billionaire hedge fund titan who enriched himself through insider trading, has an expensive new toy.

Assless chaps."Full-on rager" partying. A Fire Department intervention. Peter Thiel's hedge fund might have cratered, but the objectivist Republican's private life is rocking.

Asha Rajaratnam, the wife of accused insider-trading mastermind Raj Rajaratnam, is prepared to defend her man. And she isn't afraid to get physical, as she demonstrated earlier today when the couple left Town on West 56th Street and found themselves swarmed by photographers. [via DB]

It was less than a month ago that billionaire hedge fund manager (and occasional talk show guest) Steve Cohen was slapped with a lawsuit by his first wife, Patricia Cohen, claiming Stevie had hid millions of dollars from her when the couple split up (not to mention engaged in insider trading, set up a racketeering scheme with his brother, and committed mail and wire fraud).

It's been a crappy week for Raj Rajaratnam, the hedge funder accused of masterminding an insider trading ring. But at least he isn't facing justice in his native Sri Lanka! [The Lede]

Raj Rajaratnam, the hedge fund billionaire (and dwarf enthusiast) accused of insider trading, has even more legal trouble on his hands today. Prosecutors say they plan to tack on another bunch of charges to their original indictment, a move that could increase Rajaratnam's prison sentence to 15 years (or more) if he's ultimately convicted. Even more concerning: The Wall Street Journal unveiled a new illustration (or "hedcut") of Raj in the paper today, and his smile and casual, open-collared look has been replaced with one that makes him look much more defendant-y. That can't be a good sign, can it? [NYT, Dealbreaker, previously]

Hedge fund manager David Tepper is a rare breed. Not only did he earn $2.5 billion in 2009 while many of his peers just struggled to keep their heads above water, he still lives in the same New Jersey home he and his wife have occupied since 1990, he's yet to buy a vacation home, and he still sends his kids to public school. [BN]

Raj Rajaratnam, the hedge fund billionaire who stands accused of masterminding a massive insider trading ring, was incredibly competitive and a ruthless boss. Of course you sort of have to be if you're planning to claw your way up to the top of the hedge fund pyramid. But it turns out he was a pretty wacky boss, too, as today's Wall Street Journal illustrates.

Steve A. Cohen is the billionaire hedge fund manager who almost never talks to the press, very rarely appears in public, and does his utmost to keep himself out of the public eye. But he wasn't always that way! Last week, Cohen's first wife slapped him with a $300 million lawsuit, claiming he'd set up an elaborate scheme to cheat her out of millions that she would have otherwise collected as part of a divorce settlement. Now the Post has unearthed an appearance that Cohen made on Cristina in 1992, the short-lived spin-off the Spanish talk show by the same name. The episode, entitled "He Acts Like Her Husband, Too," featured second wives complaining about husbands who continue to maintain relationships with their first wives. And Cohen and his second—and current—wife Alex were guests on the show. The clip that made every jaw on Wall Street drop this morning is below.

That salacious lawsuit filed against SAC Capital by a former trader at the mega-hedge fund was just the tip of the iceberg. Steve A. Cohen, SAC's super-secretive founder, now has an even more embarrassing legal mess on his hands. Cohen's first wife, Patricia, whom he divorced in 1988, has filed a $300 million lawsuit against the billionaire, alleging he engaged in insider trading in the 1980s and later concealed millions of dollars of assets from her by setting up a racketeering scheme with his brother. [NYT]

Ever since Raj Rajaratnam was arrested in October for allegedly operating a vast insider trading ring, lawyers for the hedge fund founder have been busy pointing out flaws in the government's case. Now they'll get to see how it plays with a jury. A federal grand jury formally charged Rajaratnam with five counts of conspiracy and six counts of securities fraud this afternoon. [BN]

If you're looking to pick up a tiny apartment—or you're interested in rubbing shoulders with one of the city's most prominent hedge funders—keep in mind that Bill Ackman will be personally auctioning off the 322-square-foot guest suite/maid's residence he owns at The Majestic tonight. The show kicks off at 8pm and Ackman will be providing the wine. You just need to bring your checkbook, be ready to bid at least $300,000, and be prepared to close this week. Ackman, in case you're wondering, is decamping to The Beresford, where he picked up an apartment for $26 million and where, we sincerely hope, he earns an invite to join fellow residents John Stossel and John McEnroe in their regular beach volleyball games in Central Park. [Curbed]

Hedge fund kingpin and mega-art collector Steve Cohen should be chilling out at Art Basel Miami right about now, eyeing the overpriced artwork he plans to add to the ridiculous $700 million collection that sits inside his ridiculous Greenwich compound. But it's unlikely the billionaire hedge funder is having a very good day. The painfully embarrassing lawsuit filed by a former employee of Cohen's SAC Capital in 2008—which involves, among other things, sexual harassment, sodomy, female hormones, and forced cross-dressing—has finally been unsealed for all to see. And it's quite a doozy, needless to say. [Dealbreaker]

Back in September, we reported that Dan Loeb had been sued by the moving company that helped the hedge fund tycoon and his wife settle into their $45 million apartment at 15 Central Park West. The Observer has a follow-up to the story and reports the suit has been settled. The prickly financier agreed to pay $82,500 to make the case go away—a bit less than the $98,699 the moving company was demanding—mostly because Loeb couldn't stand the idea of wasting any more of his precious time sitting in court. [NYO, previously]

The growing insider trading scandal involving hedge funds has made its way to the offices of SAC Capital, the firm founded by one of the industry's most powerful figures, Zamboni-loving billionaire Steve Cohen. One of the 14 new defendants charged today, Richard Choo Beng Lee, seems to have started his crime spree when he was employed by SAC. [BI, Reuters]

Whether or not hedge fund billionaire Julian Robertson was a resident of New York City way back in 2000 may seem like a trivial question. Unless, that is, you work for the New York State Department of Taxation and Finance and you're arguing he did spend the majority of his time in NYC that year and you'd like to see him cough up the $27 million in city taxes he owes.

Billionaire hedge funder Raj Rajaratnam was arrested on Friday morning on charges he participated in one of the biggest insider trading schemes in recent memory, one that netted him at least $25 million (but possibly millions more since the investigation continues.) Fortunately for Rajaratnam, the high-profile bust didn't end up depriving him of a weekend of freedom. By the end of the day, he'd been released on $100 million bail—the highest in history—and had to give up his passport and agree not to travel more than 110 miles from New York City. And today? He was back in the office for what must have been the awkwardest Monday morning meeting ever, telling employees that he's innocent and plans to fight the charges against him.

Raj Rajaratnam, the founder of the $7 billion hedge fund Galleon Group, the 551st richest man in the world according to Forbes, and America's one and only Sri Lankan billionaire, has been arrested and charged for taking part in a $20 million insider-trading scheme. [NYT, WSJ]

Hedge fund mogul Dan Loeb paid $45 million for one of the city's poshest apartments last year, a 10,000-square-foot penthouse at 15 Central Park West. His move-in, however, didn't go so smoothly, it seems. It's unclear what took place precisely, but the moving company that Loeb and his wife Margaret hired to help them settle in, Auer's Moving & Rigging, filed a lawsuit against the couple in Manhattan Supreme Court earlier this year claiming breach of contract. (Panorama on the Park LLC, which is also listed as a defendant, is the company Loeb set up to acquire the property.) The high-end moving company is demanding that Loeb cough up the $98,689.07 which it says it's owed. Last week, though, an attorney for the Loebs responded to the suit by filing a motion to dismiss. So what went wrong? Was the prickly hedge fund manager's grand piano damaged by a faulty crane? Did a burly mover accidentally step on Biggie, the couple's miniature pinscher? The legal papers don't indicate why Loeb decided to withhold payment—let's hope that Biggie wasn't harmed—but you can review the documents for yourself below.

Don't be shocked if you notice what has been an endangered species until recently—the elusive banquette-dancing, champagne-swilling hedge funder—make a comeback in the coming months. Hedge funds "had nearly $20 billion pour into their coffers last month, as investors flocked back amid revived market optimism." Or take the glass-half-full approach and focus on the positive chalk up the news to more evidence the recession is over. [Dealbook, HedgeFund.net]