Thu, Feb 11, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Court set November trial for ex-SAC Capital hedge fund manager Matthew Martoma

Thursday, June 06, 2013

From Komfie Manalo, Opalesque Asia – A Manhattan court on Wednesday set a November trial date for former SAC Capital Advisors’s portfolio manager Matthes Martoma for alleged insider trading, reported AP.

U.S. District Judge Paul Gardephe set the trial date on November 4. 38-year-old Martoma was accused of earning $9m in bonuses from the estimated $250m illegally earned by SAC Capital and other investment professionals after he convinced a medical professor to leak secret information from an Alzheimer's disease trial between 2006 and 2008. The Alzheimer's drug was being jointly developed by Elan Corporation, plc and Wyeth.

Government prosecutors described the illegal deal as the biggest insider trading in history in terms of the amount of illegal earnings involved.

FBI agents arrested Mathew Martoma in Florida in November 2012 on insider trading charges; it was one of FBI’s five-year campaign to root out insider trading at hedge funds and expert networking firms. Martoma posted bail for his temporary liberty afterwards.

During Wednesday’s hearing at a Manhattan federal court, Assistant U.S. Attorney Arlo Devlin-Brown said the prosecution team would ask the University of Michigan to provide access to......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time

  2. Investing - Hedge funds bet on risks in U.S. blue-chip debt, Hedge funds bets against bank credit risk paying off, Tiger Global still likes Internet names, gets pointers from Jeter[more]

    Hedge funds bet on risks in U.S. blue-chip debt From WSJ.com: Hedge funds are betting the next bond sector to crack will be the $4.5 trillion market for the safest U.S. corporate debt. New York’s Perry Capital has placed a $1 billion wager against investment-grade bonds issued by 10 comp

  3. Short Selling - Hedge fund manager Kyle Bass is shorting real estate—again, Top US hedge fund has €80m short position in Paddy Power Betfair[more]

    Hedge fund manager Kyle Bass is shorting real estate—again From Fortune.com: He also predicted the mortgage crisis in 2008. Hedge fund manager Kyle Bass, who runs Dallas-based Hayman Capital, tanked the stock of a little-known real estate financier Friday by revealing that he is shorting

  4. Investing - Real estate secondaries sole 'bright spot' in 2015, As hedge funds stumble, one firm prepares to buy illiquid stakes[more]

    Real estate secondaries sole 'bright spot' in 2015 From IPE.com: The secondary market for property was the sole “bright spot” over the course of 2015, as hedge fund secondaries saw deals fall by two-thirds, according to a wide-ranging survey of the market. Setter Capital said 2015 saw th

  5. Opalesque Exclusive: Directors want to be considered trusted partners by new manager[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A hedge fund director provides her perspective on emerging hedge fund managers. She will happily work with those who have set themselves up for future growth, s