{"id":40501,"date":"2014-02-07T08:33:29","date_gmt":"2014-02-07T13:33:29","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=40501"},"modified":"2014-02-07T08:54:21","modified_gmt":"2014-02-07T13:54:21","slug":"hedge-fund-trader-mathew-martoma-found-guilty","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2014\/hedge-fund-trader-mathew-martoma-found-guilty.html","title":{"rendered":"Hedge Fund Trader Mathew Martoma Found Guilty"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/02\/Mathew-Martoma.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-40508\" alt=\"Mathew-Martoma\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/02\/Mathew-Martoma.jpg\" width=\"194\" height=\"255\" \/><\/a>New York (HedgeCo.Net) &#8211; Former SAC Capital trader Mathew Martoma has been found guilty of insider trading in what is being called the most\u00a0lucrative hedge fund insider trading cases ever prosecuted.<\/p>\n<p>&#8220;As the jury unanimously found, Mathew Martoma cultivated and purchased the confidence of doctors with secret knowledge of an experimental Alzheimer&#8217;s drug, and used it to engage in illegal insider trading.&#8221; Preet Bharara said in a statement following the conviction.<\/p>\n<p>&#8220;Martoma bought the answer sheet before the exam \u2013 more than once \u2013 netting a quarter billion dollars in profits and losses avoided for SAC, as well as a $9 million bonus for him. In the short run, cheating may have been profitable for Martoma, but in the end, it made him a convicted felon, and likely will result in the forfeiture of his illegal windfall and the loss of his liberty. Mathew Martoma becomes the 79th person convicted of insider trading after trial or by guilty plea in this District in the last four years.&#8221; Bharara concluded.<\/p>\n<p>Martoma, a former portfolio manager for a division of a group of SAC-affiliated hedge funds,\u00a0allegedly used inside information that he received from a doctor who served as an adviser to Elan Corporation PLC on the clinical trial of an Alzheimer\u2019s Disease drug to make profits and avoid losses for the hedge fund. Martoma and his then-employer, SAC Capital Advisors, liquidated holdings in two companies after receiving insider information, the prosecution said.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Former SAC Capital trader Mathew Martoma has been found guilty of insider trading in what is being called the most\u00a0lucrative hedge fund insider trading cases ever prosecuted. &#8220;As the jury unanimously found, Mathew Martoma cultivated and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-40501","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=40501"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40501\/revisions"}],"predecessor-version":[{"id":40511,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40501\/revisions\/40511"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=40501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=40501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=40501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}