Ill-Gotten Gain Watch '14: Mrs. Martoma
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]
