SAC Capital Advisors
A former portfolio manager convicted of helping his firm earn more than a quarter-billion dollars illegally through insider trading has been sentenced in New York to nine years in prison.
U.S. District Judge Laura Taylor Swain formally administered the sentence on SAC Capital LP and three related entities under a $1.8 billion deal.
When prosecutors announced the case against Mathew Martoma in November 2012, they said it may be the most lucrative insider trading scheme of all time.
A former money manager facing trial on insider trading charges was expelled from Harvard Law School more than a decade ago after he used a forged transcript to apply for a clerkship with as many as 23 federal appeals judges, according to documents unsealed Thursday.
Billionaire Steven A. Cohen’s testimony to a financial regulatory agency cannot be shown to jurors at the insider trading trial of one of the former money managers at the hedge fund he founded, a judge said in a ruling made public Wednesday.
A jury will not hear about how a former hedge fund manager fainted in front of his Florida mansion when federal agents showed up to talk about his alleged involvement in insider trading.
Just as the Manhattan jury handed its verdict sheet to the judge Wednesday, the former hedge fund manager fainted on the defense table.
A senior portfolio manager for one of the nation’s largest hedge funds was arrested Friday, accused of making $1.4 million illegally in a widening insider trading probe involving an investment company founded by billionaire businessman Steven A. Cohen.
It may be back to the drawing board for Fred and Jeff Wilpon. According to the New York Post, hedge fund billionaire Steven A. Cohen, thought to be the front-runner to buy a minority stake in the Mets, “has quickly lost interest.”