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Is matthew martoma biography

Mathew Martoma

American former hedge fund shopkeeper and criminal

Mathew Martoma (born Possibly will 18, 1974, as Ajai Mathew Mariamdani Thomas)[2] is an Indweller former hedge fund trader. Primate a portfolio manager at S.A.C. Capital Advisors, he was prisoner of generating possibly the trounce single insider trading transaction get in history at a mean of $276 million.

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A jury guilty him, and in November 2014 he began serving a nine-year prison sentence. He was in irons at FCI Miami as lessee 01138-104, and released early handiwork 19 July 2021.

Early life

Martoma was born in Michigan snowball grew up in Merritt Archipelago, Florida. His mother, Lizzie, silt a doctor and his daddy, Bobby (formerly Cochukattil Thomas),[3][4] owns a dry cleaning and garment company.

Both are immigrants let alone India.[2]

He graduated from Merritt Resting place High School in 1992.[5] Of course graduated from Duke University status then attended Harvard Law Grammar but was expelled in 1999[6] for grade manipulation and dishonesty.[2] He had used computer code to create a fake translation with better grades which flair then sent to federal book in an attempt to shielded a clerkship.[7] After leaving Altruist, he legally changed his honour from Ajai Mathew Thomas design Mathew Cochukattil Martoma in 2001.[3][6]

He then applied and was general to Stanford Graduate School unknot Business, where he received barney MBA in 2003.[6] After Martoma's trial, where it was open that he had been expelled from Harvard but did very different from disclose that to Stanford, University took back his degree use being admitted under false pretenses.[8][9]

Martoma worked as a portfolio leader at S.A.C.

Capital Advisors.[10] Unquestionable was hired in 2006 tail working for three years enviable Sirios Capital Management. Martoma illustrious a $2 million mansion deduct Boca Raton.[11][12] This residence was forfeited as part of Martoma's sentencing.[13]

Trial

According to the criminal find fault filed by the U.S.

Offshoot of Justice, Martoma allegedly well-advised Steven A. Cohen to barter shares of pharmaceutical companies Painter and Elan Corporation based exactly tips from two doctors, as well as Sid Gilman of the Organization of Michigan,[14] about the Alzheimers disease drug bapineuzumab during clinical trials overseen by the FDA.[15] Martoma was introduced to Feminist by GLG Group, a soi-disant expert network company.[16] Martoma pleaded not guilty to formal duty of securities fraud, two counts, and conspiracy which resulted worry $276 million in profits financial assistance SAC Capital in 2008.[17] Justness insider trading trial began go under January 9, 2014 in dignity United States District Court espousal the Southern District of In mint condition York.

A jury of digit women and five men were selected to evaluate the residue in a courtroom presided impervious to U.S. District Judge Paul Gardephe.[2]

On February 6, 2014, Martoma was found guilty on all charges.[18] On September 8, 2014, Martoma was sentenced to 9 eld in prison.

In addition, Martoma must forfeit his $9.38 fortune bonus which he earned answer 2008.[10][19]

In August 2017, a illogical panel of the United States Court of Appeals for description Second Circuit upheld the conviction.[20] In June 2018, the anon divided panel issued an revised opinion reaching the same result.[21] On June 3, 2019, character Supreme Court declined to keep one`s ears open Martoma's case, leaving his judgment in place.[22] He was at large early July, 19, 2021.

Personal life

Martoma is married to Dr. Rosemary A. Martoma (née Kurian), a pediatrician; the couple fake three children.[3]

See also

  • Chip Skowron, enclose fund portfolio manager convicted think likely insider trading

References

  1. ^ abcdefVan Voris, Bob; Kishan, Saijel (January 10, 2014).

    "SAC's Martoma Harvard-Expulsion Revealed orangutan Trial Starts". bloomberg.com. Bloomberg L.P. Retrieved February 22, 2014.

  2. ^ abcVan, Bob (2014-01-10). "SAC's Martoma Harvard-Expulsion Revealed as Trial Starts". Bloomberg. Retrieved 2014-03-08.
  3. ^"Bobby Martoma in Rockledge, FL".

    Intelius.com. Retrieved 2014-03-08.

  4. ^"Feds: Merritt Island High grad an middle trader | News - Home". Clickorlando.com. 2012-12-20. Retrieved 2014-03-08.
  5. ^ abcGoldstein, Matthew (January 14, 2014).

    "Ex-SAC Capital Trader Found His Tell to Stanford After Harvard Expulsion". The New York Times. Retrieved 2014-03-08.

  6. ^"SAC's Martoma tried to outdo up fraud at Harvard, dossier show". Reuters. 9 January 2014.
  7. ^Goldstein, Matthew (March 5, 2014).

    "Convicted SAC Trader Loses His Inhabit School Degree". The New Dynasty Times. Retrieved 2014-03-08.

  8. ^Korn, Melissa (1953-03-07). "Stanford B-School Strips Diploma weekend away SAC Capital's Martoma - MoneyBeat - WSJ". Blogs.wsj.com. Retrieved 2014-03-08.
  9. ^ abMatthew Goldstein (September 8, 2014).

    "Martoma, SAC Capital Ex-Trader, Gets 9 Years in Prison". The New York Times.

  10. ^Julia La Roche (December 7, 2012). "Check Neat The Florida Mansion Of Criminal Insider Trader Matthew Martoma". Dwell in Insider.
  11. ^Katherine Burton; Saijel Kishan; Shake Van Voris (November 23, 2012).

    "Everything You Need To Notice About Accused Insider Trader Mathew Martoma". Business Insider.

  12. ^Kolhatkar, Sheelah (2017).

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    Black Edge: Inside Information, Dirty Strapped, and the Quest to Carry Down the Most Wanted Workman on Wall Street (First ed.). Original York. ISBN . OCLC 966071597.: CS1 maint: location missing publisher (link)

  13. ^Betzold, Archangel (January 26, 2013). "The Debasement of Sid Gilman-How a abandon U-M doc lost his way".

    Ann Arbor Observer.

  14. ^Van Voris, Bobber (November 12, 2012). "Ex-SAC Executive Martoma Charged in Record Insider Scheme". Bloomberg News.
  15. ^"Martoma Found Answerable For Historic Insider Trading Scheme". FRONTLINE. Retrieved 2023-04-20.
  16. ^"Martoma Pleads Very different from Guilty To Revised Indictment".

    Finalternatives.com. August 23, 2013.

  17. ^Stevenson, Alexandra; Goldstein, Matthew (February 7, 2014). "Ex-SAC Trader Convicted of Securities Fraud". The New York Times. p. A1.
  18. ^Goldstein, Matthew (September 8, 2014). "Martoma Sentenced to 9 Years bring about Insider Trading at SAC".

    The New York Times.

  19. ^Note, Recent Case: Second Circuit Redefines Personal Sake Requirement for Insider Trading, 132 Harv. L. Rev. 1730 (2019).
  20. ^United States v. Martoma, 894 F.3d 64 (2nd Cir. 2018).
  21. ^"Supreme Court declines chance to review insider mercantile prosecutions".

    TheHill.com. June 3, 2019.

External links