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Mathew Martoma Is Still Going To Jail

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Despite his lawyer's arguments that 1) The government's key witness can't be trusted and 2) That whole business with the fake Harvard Law transcripts made him look bad in the eyes of the jury.

The decision from U.S. District Judge Paul Gardephe, who oversaw the trial earlier this year, was in response to a request from Martoma and came ahead of his sentencing on Monday on conspiracy and securities fraud convictions...In addition to refusing to toss Martoma's conviction, Gardephe denied his request for a new trial. The judge rejected his contention that the key government witness – Sidney Gilman, a doctor who testified as part of a cooperation deal that he had given Martoma the clinical results – was unreliable. "To the contrary, Dr. Gilman's account was – as to the key issues – supported by strong circumstantial evidence," Gardephe wrote. Martoma also claimed the jury was tainted by widespread media reports regarding his expulsion from Harvard for doctoring a transcript. But Gardephe said there was no evidence any juror had been exposed to that information.

U.S. judge won't toss insider trading conviction of SAC's Martoma [Reuters]