Galleon Group LLC’s Raj Rajaratnam will be sentenced today for masterminding the biggest hedge-fund insider trading scheme in U.S. history, facing a federal judge who has broad discretion in setting his punishment.
SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.
The former Goldman Sachs Group Inc. programmer twice charged with stealing the company’s high-speed trading code on his last day of work scored a pre-trial victory as a New York judge ruled his arrest was illegal and threw out some of the evidence against him.
When former SAC Capital Advisors LP fund manager Mathew Martoma presents his defense to insider- trading charges, how much he shares with jurors may be limited by what his lawyers called “toxic character evidence.”
Former SAC Capital Advisors LP fund manager Mathew Martoma was found guilty in the most lucrative insider-trading scheme ever as federal prosecutors racked up a seventh conviction in their six-year probe of the hedge fund and its billionaire founder, Steven A. Cohen.