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Ill-Gotten Gain Watch '14: Mrs. Martoma

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Rosemary, wife of ex-SAC PM Mathew, wants the Feds to keep their mitts off 50% of the marital assets.

Rosemary Martoma is trying to block the feds from seizing her share of the couple’s assets, including their $1.9 million Boca Raton, Fla., mansion where they moved after he was fired in 2010, and $4 million in bank accounts. Mathew Martoma was sentenced to nine years in prison and ordered to fork over $9.3 million — his take of the $275 million profit his employer, hedge fund SAC Capital, reaped from his illegal trading. Rosemary, a former pediatrician, asked the court on Wednesday to set a hearing over her assertion that she should be able keep half of the properties. She “agreed to give up her career, and care for the household and children, based on the promise that she would have equal, joint ownership of all income derived from the defendant’s work outside of the household,” her lawyers said in court papers. The same lawyers also represent Mathew Martoma and have been paid for by Steve Cohen, SAC Capital’s founder. Prosecutors tried to get Martoma to implicate Cohen without success. White-collar defense lawyers debunked her argument. “If one spouse steals money, the other spouse doesn’t get to keep it just because she quit work,” said Michael Bowe of Kasowitz Benson Torres & Friedman.

Rosemary Martoma wants her half of husband’s ill-gotten gains [NYP]


Mr. And Mrs. Mathew Martoma In Surprisingly Good Spirits Considering Someone's Recent Workplace Drama

Earlier today, former CR Intrinsic employee Mathew Martoma made an appearance in federal court re: the matter of his being charged with insider trading during his time with the SAC Capital unit. The hearing was merely to set the terms his bail-- lenient enough that they allow him to travel throughout Massachusetts, New Jersey, Florida, and parts of New York, though not so generous so as to allow for visits with old friends in the Nutmeg State-- with a follow up meeting with the Judge James Cott set for December 26th. Joining Mathew at the courthouse today was his wife, Rosemary, and while we expected brave faces and a united front from the couple, we didn't expect smiles and jokes for the cheap seats.