Friday, 29 August 2014
Last updated 14 hours ago
May 15 2013 | 1:49pm ET
Prosecutors will reveal the identities of former SAC Capital Advisors portfolio manager Mathew Martoma's alleged co-conspirators by the end of July.
The government said it would disclose the names to Martoma's lawyers by July 31—and would give the defense at least 30 days before Martoma's trial begins the names of any alleged co-conspirators it uncovers by then.
Martoma is accused of earning SAC some $276 million trading on confidential information about Alzheimer's drug trials. To date, the only co-conspirator identified has been Sidney Gilman, the medical professor who admitted to providing Martoma with the tips about the trials.
It is unclear whether SAC founder Steven Cohen will be named a co-conspirator. He is not identified by name in either the criminal complaint or the Securities and Exchange Commission lawsuit against Martoma, although he is referred to as SAC's "owner" and "Portfolio Manager A." Both complaints allege that Martoma shared his tips with Cohen, but do not say whether he indicated the source of the information to the billionaire. Prosecutors have reportedly sought Martoma's cooperation in building a case against Cohen, cooperation which has not been forthcoming.
The only other person who has been linked to the case against Martoma is Phillipp Villhauer, who is identified as SAC's "head trader" or "senior trader." Neither Cohen nor Villhauer have been accused of any wrongdoing.
Prosecutors, in a Monday court filing, also said they have provided "ample notice of the charges" and "more than enough information" to Martoma's defense team. The government has asked the judge to reject Martoma's request for a bill of particulars.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...