Steinberg allegedly traded in the securities of two publicly-traded technology companies - Dell and NVIDIA Corporation - based on inside information that he obtained from his research analyst Jon Horvath, who had acquired the information from analysts at various investment firms.

Steinberg’s trades in Dell and NVIDIA, carried out after obtaining inside information about the firm’s quarterly earnings in 2008 and 2009 respectively, together resulted in some $1.9 million in illegal profits for his hedge fund.

The Federal Bureau of Investigation said in a statement that Horvath previously pled guilty to insider trading, as did the following analysts involved in the case: Jesse Tortora, formerly of Diamondback Capital; Spyridon Adondakis, formerly of Level Global; Danny Kuo, formerly of Whittier Trust; and Sandeep Goyal, formerly of Neuberger Berman. Steinberg was found guilty of conspiracy to commit securities fraud and four counts of securities fraud.

Steinberg is scheduled to be sentenced on April 25, 2014. The start of his trial started two weeks after Steven Cohen’s hedge fund agreed to pay a total fine of $1.8 billion to settle the long-running insider trading inquiry.

The settlement, reached at the start of November, brought to an end a seven-year-long investigation by US prosecutors and fuels months of speculation as regards whether Cohen might turn the remainder of his business into a family office-type structure .