Trader faces up to 20 years in jail

Prison Bars

That's a long time to think about what you have done.

Bloomberg reports that former SAC Capital Advisors fund manager Mathew Martoma, who was found guilty February 6th in the most lucrative insider-trading scheme ever, is scheduled to be sentenced June 10 and may face as many as 20 years in prison.

Martoma, 39, was convicted of two counts of securities fraud, which carries a maximum 20 year term, and one count of conspiracy, which has a maximum five year term. U.S. District Judge Paul Gardephe may make each term concurrent, and has latitude to impose a significantly shorter sentence.

The longest insider-trading term of 12 years was given to attorney Matthew Kluger in 2012 for a $37m scheme. The second-longest of 11 years was imposed upon Galleon Group LLC co-founder Raj Rajaratnam for a $72m scheme.

Hit the link below to access the complete Bloomberg article:

SAC’s Martoma Faces Up to 20 Years at June 10 Sentencing

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