Inside the Biggest Insider Trading Case in American History


Ace News Group:

When the FBI showed up at Mathew Martoma’s multimillion-dollar Florida mansion shortly before dawn on the morning of Nov. 8, 2011, the former SAC Capital hedge fund trader fainted on his front lawn. Federal agents had arrived to inform Martoma that U.S. prosecutors had evidence that he had violated federal securities laws. Two years later, Martoma is set to go on trial in the Southern District of New York for what the federal government calls the largest insider trading crime in U.S. history.
#AceWorldNews says Martoma, 39, is accused of orchestrating a $276 million financial scheme while working as a trader for SAC Capital, the multibillion-dollar hedge fund built by reclusive Wall Street billlionaire Steven A. Cohen. Martoma is charged with trading illegally on inside information he obtained from a doctor involved in a 2008 pharmaceutical trial for an Alzheimer’s drug that was being jointly developed by Elan Corp. and Wyeth. For more than a year, Martoma, who has pleaded not guilty, . #Fraud

Originally posted on Business & Money:

When the FBI showed up at Mathew Martoma’s multimillion-dollar Florida mansion shortly before dawn on a November morning in 2011, the former SAC Capital hedge fund trader fainted on his front lawn. Federal agents had arrived to inform Martoma that U.S. prosecutors had evidence that he had violated federal securities laws. Now, Martoma is set to go on trial in the Southern District of New York for what the federal government calls the largest insider trading crime in U.S. history.

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  1. Pingback: ” Financial World Shaken by `Death’s of Four Banker’s Apparent Suicides’ in one Week” | Ace News Services 2014

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