Witness: Mathew Martoma Had A Firm Grasp On What Constituted Legal v. Illegal Trading

Not sure why it would come as much of a surprise that a person who almost successfully conned his way into a prestigious clerkship and then entirely successfully got himself admitted to Stanford Business School despite an expulsion from Harvard would have a complete understanding of basic securities laws, but here you go:

Mathew Martoma attended hedge fund SAC Capital Advisors LP’s annual compliance training sessions two years in a row, an officer with the firm said, testimony that could bolster the insider-trading case against the former portfolio manager. The testimony by John Casey, an SAC compliance officer, could buttress the government’s contention that Mr. Martoma knew that what he was doing was illegal when he allegedly obtained inside information from two doctors involved in an experimental Alzheimer’s drug trial…Mr. Casey said he went over the firm’s code of ethics and insider-trading regulations with attendees during the sessions. Mr. Martoma’s name and signature appeared on the sign-in sheet for the ones held in 2007 and 2008, indicating that he attended both, Mr. Casey testified.

So far it seems as though Martoma and his representation have been arguing that he did not commit insider trading, period, rather than he was but a simple man who didn’t know what he was doing was insider trading, but it would be mildly-moderately amusing if they suddenly shifted gears to claim the latter. (And if they want to go in that direction, a jury might not exactly be flabbergasted by a revelation that, say for argument’s sake, he doctored his records from Compliance College and never actually attended those sessions!)

Witness: Martoma Was Trained In Compliance [WSJ]

Earlier: Behold The Dazzling Array Of Lies Mathew Martoma (née Thomas) Told Before Getting Expelled From Harvard Law School

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3 Responses to “Witness: Mathew Martoma Had A Firm Grasp On What Constituted Legal v. Illegal Trading”

  1. Guest Sleuth says:

    Clearly he has to know what constitutes legal and illegal trading so he can figure out how to manipulate the rules.
    If anything, this testimony shows his innocence. Compliance manual says he's supposed to contact superiors with questionable or unusual issues. They know he had a 20 minute phone call with Stevie before the trades were made and in the end, Martoma's trader never made the sales and shorts from his portfolio, Stevie's trader did. That seems to show Stevie traded on inside info, not Martoma.

  2. CTRL + V says:

    SHUT the fuck up!!

    – Stevie C's dripping armpits

  3. Guest says:

    Prestigious clerkship = non sequitur