Mathew Martoma Is Definitely Still Not Getting Out Of Jail

He remains -- and The Supreme Court cannot emphasize this enough -- still guilty of insider trading.

Author:: Thornton McEnery
Publish date:: Jun 3, 2019
Updated on: Jun 3, 2019

He remains -- and The Supreme Court cannot emphasize this enough -- still guilty of insider trading.

Welp, it appears that Mathew Martoma's five-plus-year-long crusade to clear his name has come to an end...

The U.S. Supreme Court on Monday rejected an appeal by Mathew Martoma, a former portfolio manager for billionaire Steven A. Cohen, challenging a conviction for insider trading.
The Supreme Court left in place a June 2018 ruling by the New York-based 2nd U.S. Circuit Court of Appeals, which found there was enough evidence to establish Martoma’s guilt despite defective jury instructions in the trial. Martoma had worked at the CR Intrinsic Investors unit of Cohen’s SAC Capital Advisors LP.

That's literally the end of the road for Double M. Not that he hasn't done amazing things like confound the legal definition of "benefit," and expand the legal definition of "insider trading" [thanks for that, homie.]

We look forward to what Martoma will do next...from prison...cuz that's where he's staying.

Supreme Court rejects insider trading appeal brought by SAC's Martoma [Reuters]

By Federal Bureau of Prisons (http://www.bop.gov/locations/index.jsp) [Public domain], via Wikimedia Commons

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

By Bjoertvedt (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Mathew Martoma’s not so sure.

"We have been remarkably successful in convincing persons to cooperate with the government, and provide evidence to us, and in court of law," SEC director of enforcement Robert Khuzami said during a press conference the day the government went public with its charges of insider trading against former SAC Capital employee Mathew Martoma. To the untrained ear, Khuzami probably appeared to be speaking to no one in particular, just sending a general message to any would-be criminals out there that once the government got to their co-conspirators, it'd be all over. No one wants to do time, and everybody flips. To those who've been following Operations Perfect Hedge, though, and have watched the Feds' relentless pursuit of Steven A. Cohen, it was obvious they were sending a clear message to the Big Guy: "We got ya boy, and ya goin' down." And since its track record of getting people to turn on their colleagues and in some cases, their best friends (see: Noah Freeman/Donald Longueuil, and these guys, and these guys, and this guy) really has been "remarkably successful," and since Martoma has a wife and two young kids and his whole life ahead of him, Khuzami and Co. probably assumed they had this one in the bag. But not so.