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.
The jury in the trial of former SAC Capital Advisors LP portfolio manager Mathew Martoma ended its second day of deliberations yesterday without a verdict, after asking to review testimony supporting his claim that details of a drug trial weren’t derived from inside information.
Former SAC Capital Advisors LP fund manager Mathew Martoma was portrayed by his lawyer as the victim of a “rush to judgment” by prosecutors looking to use him to bring insider-trading charges against his former boss, Steven A. Cohen.
Former SAC Capital Advisors LP fund manager Mathew Martoma’s defense ended yesterday after his lawyers sought to convince jurors that the inside information he’s accused of trading on wasn’t actually secret.
The judge in Mathew Martoma’s insider-trading trial warned his lawyers against questions tied to Steven Cohen’s trading strategies, saying it could open the case to a wider probe of the SAC Capital Advisors LP founder.
The government’s star witness at the insider trading trial of Mathew Martoma told a defense lawyer seeking to discredit his testimony that his memory of a key 2008 meeting with the former SAC Capital Advisors LP fund manager improved over time.
Former University of Michigan neurologist Sidney Gilman said an FBI agent told him that he and accused inside-trader Mathew Martoma were only a “grain of sand” compared with the government’s real target, SAC Capital Advisors LP founder Steven A. Cohen.
Testimony by one of Mathew Martoma’s expert witnesses at his insider trading trial should be barred, and another one’s curtailed, because defense lawyers failed to make adequate disclosures about what they’ll say, U.S. prosecutors told a federal judge.
Nine years before former SAC Capital Advisors LP fund manager Mathew Martoma engaged in what prosecutors claim was “the most lucrative insider trading scheme ever charged,” he was kicked out of Harvard Law School for faking his grades.