The sentencing of former SAC Capital Advisors LP hedge fund manager Mathew Martoma, who faces what may be the longest insider trading prison-term in history, will be delayed following a defense request for additional time, a court clerk said.
Former SAC Capital Advisors LP fund manager Mathew Martoma is seeking a lenient prison term for his insider-trading conviction, saying the narrow scope of his unlawful trades warrants a lighter penalty when he is sentenced next month.
An administrative proceeding filed against SAC Capital Advisors LP founder Steven A. Cohen by the Securities and Exchange Commission should be put on hold because prosecutions of his former employees aren’t fully resolved, the government told an agency 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.
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 portfolio manager Mathew Martoma is scheduled to go on trial Nov. 4 on charges he helped the hedge fund founded by Steven A. Cohen make $276 million using illegal tips about a drug to treat Alzheimer’s disease.
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.