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81-Year-Old Neurologist Proposes Theory Of Memory Evolution

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Sidney Gilman—Alzheimer's specialist, former University of Michigan medical professor and confessed provider of confidential information to the hedge-fund set—used his final moments on the witness stand to offer one more contribution to science.

Dr. Gilman testified this week that he met with Mr. Martoma on July 19, 2008, at his office at the University of Michigan in Ann Arbor and discussed the results. But under cross-examination, Dr. Gilman conceded he initially told prosecutors during meetings in 2011 and 2012 he had no memory of the meeting, despite a calendar entry recording it.

Richard Strassberg, an attorney for Mr. Martoma, asked Dr. Gilman if he only realized the meeting was important to prosecutors after they raised it repeatedly during meetings with him. Dr. Gilman was motivated by a desire to stay out of jail, Mr. Strassberg suggested.

By early 2013, Dr. Gilman recalled the meeting, he said, and details of it came back to him as recently as October.

"It was an evolutionary process," he said Friday.

Key Witness Finishes Testimony In Ex-SAC Manager Trial [WSJ]


By Federal Bureau of Prisons ( [Public domain], via Wikimedia Commons

Mathew Martoma Isn’t Getting Out Of Jail

In trying, though, he did get the definition of insider-trading broadened again. So there’s that.

Doctor Who Tipped Off SAC Manager Wasn't Conspicuous About His Wealth Except When He Was Telling Strangers On Planes About All The Fancy Hotels And Limo Rides Insider Trading Afforded Him

As you may have heard, in addition to the salary he was paid by the University of Michigan, Dr. Sidney Gilman made about $100,000/year through his side-gig advising "a wide network of Wall Street traders."  That network included included Mathew Martoma, recently charged with running “the most lucrative insider trading scheme ever,” based on the information he received from Gilman, who made it a habit of leaking highly confidential information to the former SAC Capital employee. While most people that engage in fraud can't help but spend their ill-gotten gains in a flashy way that attracts unwanted attention (expensive cars, private jets, chinchilla fur coats) the Times reports that Sid Gilman's supplementary income "was not readily apparent in his lifestyle in Michigan." For instance, no second home and no bragging to his colleagues about his life on Wall Street. Still, on at least one occasion, the doctor couldn't help but let the underage girl sitting next to him on a flight home know that she was in the presence of a BSD.

Maybe this'll come out of archives? Getty Images

Prosecutors Decide Against Reliving SAC-Smashing Glory Days

Richard Lee will not have to explain his earlier guilty plea to a jury.