Did the revelation that Martoma, who at the time went by the surname Thomas, created fake transcripts and sent them to judges with whom he was seeking clerkships and then tried to pass the whole thing off as a joke that he blamed on his brother, make Martoma/Thomas look bad? You bet. Did the jury nevertheless find him guilty strictly based on the evidence that he convinced a little old man to give him confidential drug trial results and broke a host of securities laws on the way to orchestrating the most lucrative insider trading scheme ever? That’s what people who did graduate from law school are going with:

“[T]he evidence at trial overwhelmingly established that Martoma received material, nonpublic information,” prosecutors, in a 36-page memo, told the trial judge. Martoma, a former portfolio manager at Steve Cohen’s SAC Capital Advisors hedge fund, asked the judge in February to reverse his conviction or toss the verdict and order a new trial. A federal court jury found Martoma guilty of masterminding the most lucrative insider-trading trade ever — $275 million in profits and averted losses. Martoma’s lawyers argued that information about his being kicked out of Harvard Law School tainted the trial. Prosecutors maintain there was no evidence the jury was aware that Martoma forged his college transcripts and got booted from the Ivy League school.

Martoma undeserving of new trial: prosecutors [NYP]

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Comments (10)

  1. Posted by Lowly Assistant | March 25, 2014 at 2:02 PM

    Overzealous Collar Crime doesn't pay.

  2. Posted by Guest | March 25, 2014 at 2:20 PM

    I like his coat.

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  3. Posted by Martha S | March 25, 2014 at 2:28 PM

    The sooner you do the time, the sooner you get released.

  4. Posted by Guest | March 25, 2014 at 3:13 PM

    I mean yes, right? That is one special coat. I always start coat shopping after seeing that picture.

  5. Posted by 800getaget | March 25, 2014 at 3:15 PM

    Is it true that Matthew Thomas Martoma met the missus through People Resources?

  6. Posted by @insidertrading_ | March 25, 2014 at 3:42 PM

    I was going to make a point that the transcript history should have been excluded as it was more prejudicial than probative to the charges he was facing, but that really is a nice coat. Thank you for referencing it.

  7. Posted by Richard Longman | March 25, 2014 at 3:44 PM

    Surinam Thomas ?

  8. Posted by Surinam Thomas | March 25, 2014 at 4:07 PM

    Maybe I can trade it for cigarettes and protection.

  9. Posted by GSelevator | March 25, 2014 at 4:14 PM

    Maybe he should opt for a sex change and get sent to a female prison so he won't be someone's bitch.

  10. Posted by Paul | April 1, 2014 at 2:50 PM

    This guy is never going to be trusted in the legal community if this is how he starts out.