Mathew Martoma May Not Be Given A Chance To Clear His Good Name Re: Harvard Law Expulsion, Dance Classes

There’s also Martoma’s relationship with Stephen Chan, who was facing charges that he defrauded financial firms of $12.6 million when they met that year. Chan pleaded guilty to mail fraud and conspiracy and was sentenced to more than four years in prison. FBI agents who approached Martoma at his Florida home in 2011 used Chan’s name as a pretext to talk with him. When they said they really wanted to talk about Martoma’s trades, he fainted. Though that was a ruse, their association, which lasted only a few months, may complicate Martoma’s ability to contest charges that could land him in prison for 20 years. If Martoma takes the stand during the defense case, which may begin today, prosecutors can use his history with Chan as ammunition to attack his credibility…According to Chan, he and Martoma worked out together, practiced martial arts and took dance lessons at the Arthur Murray Dance Studio in Natick, Massachusetts. They had dinner together five or six times a week, Chan said…Lou Colasuonno, a spokesman for Martoma, said the fund manager’s association with Chan and the Harvard matter “was a decade and a half ago and has no bearing on the present case.” While not calling Martoma as a witness limits the government’s ability to impugn his credibility, it also restricts the defense’s power to counter the charges. “It cuts off any avenue by which Martoma can explain himself,” Sabino said. [Bloomberg]

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30 Responses to “Mathew Martoma May Not Be Given A Chance To Clear His Good Name Re: Harvard Law Expulsion, Dance Classes”

  1. guest says:

    Seriously what does Stevie have on him that is worth risking 20 years in the slammer?

    • Guess says:

      Not getting 20 years. Maybe 5, likely 3. That's vacation time. If he cooperated he'd MAYBE get off completely, blow his new worth on his own lawyer and still be unemployable. Don't cooperate, gets Cohen's lawyer sharks, lighter sentence and obviously still unemployable, but will receive some generous thank you from SC. And it's highly likely all he had on Cohen was hearsay. Enough to ruin Cohen's day but short of the juice the government needs for a conviction.

      • Lompoc Wardern says:

        Cohen will not risk compensating him anything ever.

        Obstruction of Justice is far more serious at a federal level and could put him away for good.

        • Guest says:

          Hmmmmmm.. then why didn't the guy cooperate with the Feds? By all accounts, an offer was there to do so.

      • HighFrequencyHater says:

        Not sure where you're getting the 5-3 front. Where's that fun upside-sentence length regression that dealbreaker made? M is some 250mio deep on that one, so if convicted he'll be on the far end of that chart.

  2. Rossi says:

    I think he will enjoy the dating scene in the hole.

  3. Guest says:

    Unbelievable. His personal history just gets worse and worse.

    "Just after New Year’s Day 2000, Martoma sued Chan and obtained a restraining order against him. Martoma claimed Chan had kicked him in the stomach, screamed insults and threatened him and his parents. Chan said he didn’t assault or threaten anyone. "

  4. Guest says:

    Bet Stanford is feeling real good about his attendance there.

  5. Guest says:

    Matty was always one of my favorite co-workers.


  6. Guest says:

    I thought Martoma's father ran a dry cleaners or something. How did he get $1mm to invest in the computer company?

  7. J.G. says:

    "And now the matador shall dance with the blind shoemaker!!"

  8. Guest says:

    Sounds like they were running the business straight from the Power Point handouts from the Learning Annex.

    "The company had a Mercedes Benz and a BMW, she said. Chan would give the employees motivational talks, telling them they’d have to work hard and suffer if they wanted to be successful.

    “If you want this Mercedes Benz, you have to go out and get it,” Pressman said Chan told her. “We were so excited. Then it’s a few months later and we haven’t gotten one phone call from a client?” "

  9. Paft Dunk says:

    Lose yourself to transcript forgery, if that doesn't trip your trigger, lose yourself to DANCE!

  10. Not gay at all guy says:

    Not gay at all

  11. Guest says:

    So what I'm getting from this is that you're a big fan of Berlusconi.

  12. HighFrequenyHater says:

    More caps than a bar mitzvah

  13. guasto says:

    bravo ragazzo! like a demented italian geezer oil trader. not that i'm a fan of il cav…