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Mathew Martoma Is In Miami

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Unfortunately, this is a business, not pleasure trip: yesterday marked Day 1 of 3,285 of his sentence for orchestrating the largest insider trading scheme ever.

Mathew Martoma has started his nine-year prison term for insider trading at a “low security” federal prison in Miami at a time that most of the former hedge fund traders and analysts also convicted in the federal government’s long-running investigation have paid their debt to society. Mr. Martoma, 40, reported on Thursday to the Federal Correctional Institute in Miami and is scheduled to be released on Sept. 20, 2022. Mr. Martoma, the married father of three young children, is appealing his conviction. Earlier this year, a jury convicted Mr. Martoma on charges that he used inside information to generate profits and avoid losses totaling $275 million while working for Steven A. Cohen’s hedge fund, SAC Capital Advisors.

Martoma Starts Serving 9-Year Sentence for Insider Trading [Dealbook]