CR Intrinsic PM Arrested On Insider Trading Charges Can Take Solace In Knowing He Is Peerless In His Field

Former SAC Capital Advisors LP portfolio manager Mathew Martoma was charged in what U.S. prosecutors called “the most lucrative insider-trading scheme ever,” netting as much as $276 million while at the hedge fund. Prosecutors in the office of U.S. Attorney Preet Bharara in Manhattan today unsealed a complaint charging Martoma with trading on illicit tips about Alzheimer’s disease drug-trial results from 2006 to 2008. Martoma is accused of arranging trades in shares of Wyeth LLC and Elan Corp., making $220 million in profits and avoiding $56 million in losses for an unnamed hedge fund. Martoma is charged with one count of conspiracy and two counts of securities. Mathew Martoma, 38, of Boca Raton, Florida, worked for CR Intrinsic Investors in Stamford, Connecticut, a unit of SAC Capital, according to a civil complaint lawsuit filed against him by the U.S. Securities and Exchange Commission. Martoma allegedly engaged in the misconduct while at CR Intrinsic, according to the SEC complaint. [Bloomberg, WSJ, Complaint]

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14 Responses to “CR Intrinsic PM Arrested On Insider Trading Charges Can Take Solace In Knowing He Is Peerless In His Field”

  1. Guest says:

    $276mm? Wasn't Raj"2 nabbed for only $25mm?

  2. Sean says:

    That's a lot of fleece pullovers

  3. Guest says:

    Aww… come on… give Matt a break.

    – Definitely not Matt Levine

  4. Guest says:

    Stevie, they gunna get you sooner or later.


  5. Guest says:

    He's just compensating for only having one "t" in Mathew

  6. qwestion says:

    Nobody got hurt. Let him go.

  7. Guest says:

    A lawyer who sounds like a programmer will not take a big dick swinger down thats a promise…Preet Bharara cmon man.

  8. guest says:

    In a time saving maneuver, the SEC has built a giant bird cage to lower on top of SAC headquarters for the inevitable day of reckoning

  9. Mom says:

    Matt, what does your model say about the likely length of sentence?

  10. guest says:

    Stevie, Bernie, Bernie, Stevie