Wed, Jan 28, 2015
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. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  2. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  3. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  4. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r

  5. Indices - Barclay CTA Index gains 7.71% in 2014; largest traders return 12.31% for the year, Wilshire Liquid Alternative Index family outperforms investable hedge fund index counterparts in 2014[more]

    Barclay CTA Index gains 7.71% in 2014; largest traders return 12.31% for the year The Barclay CTA Index compiled by BarclayHedge gained 7.71% in 2014. The Barclay BTOP50 Index, which measures performance of the largest CTAs, was up 12.31% in 2014. “The BTOP50 had a strong finish, e