Martoma Sentencing Set For June 10

Feb 10 2014 | 10:45am ET

Former SAC Capital Advisors trader Mathew Martoma will be sentenced on June 10, following his conviction last week on insider-trading charges.

The former portfolio manager faces up to 45 years in prison, but is expected to get between seven and 10 years for what prosecutors called the "most lucrative" insider-trading scheme in history, one that earned or saved SAC $276 million. The longest insider-trading sentence in U.S. history is 12 years.

Martoma was found guilty of securities fraud and conspiracy on Thursday, after a four-week trial. Prosecutors said he tapped two doctors for confidential information about an Alzheimer's drug trial, using the tips to trade two pharmaceutical companies.

Martoma remains free on $5 million bond until his sentencing.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...