 According to court records, Balkany told an investigator with U.S. Attorney Preet Bharara′s Manhattan office in a conversation recorded by prosecutors, that SAC had inside tips about two companies which make medical devices and a company which makes molecular diagnostic products.SAC, which has since been riddled with insider trading convictions, had a SAC lawyer alerted prosecutors to the extortion attempt, and a prosecutor said during the trial that Balkany "lied" and that there was no evidence of illegal trades.This was later proven untrue.