Indian-origin hedge fund manager Mathew Martoma indicted in insider trading
The Economic Times, 26 December 2012
Indian-origin hedge fund portfolio manager Mathew Martoma has been indicted in one of the “most lucrative” insider trading schemes ever involving $276 million and will be arraigned in a court here next month. Martoma, 38, was arrested last month at his home in Boca Raton, Florida, on charges of using material, non-public information he received from a doctor on the clinical trial of an Alzheimer’s disease drug to make prots and avoid losses for his hedge fund in an amount totaling $276 million
He was released on a $ve million bail after he appeared in Manhattan federal court for an initial hearing last month. A federal grand jury indicted Martoma on securities fraud and conspiracy charges last week.
He faces a maximum penalty of 45 years in prison and a $ve million net. He would appear in federal district court in Manhattan for his arraignment on January 3, when he would enter a plea.
Read Full Article“>Credit Suisse Virtual Financial Services Forum
