Former SAC Capital Advisors portfolio manager Mathew Martoma, convicted of orchestrating the most lucrative insider trading scheme in U.S. history, should spend more than eight years in prison, prosecutors told the judge who will sentence him next month.
Convicted insider trader Mathew Martoma has been given almost seven more weeks to ponder his fate.
Point72 Asset Management LP, Steven A. Cohen’s family office and successor to his hedge-fund firm SAC Capital Advisors LP, is banning some of its employees from using instant messaging for external communication after last year agreeing to settle insider trading allegations.
Goldman Sachs which stood by Steven A. Cohen last year as his SAC Capital Advisors bore the brunt of a massive insider trading probe, has come to the billionaire’s aid again.
SAC Capital Advisors’ Michael Steinberg, convicted of insider trading in December, should be sentenced to no more than two years in prison, less than half the sentence recommended by the court’s probation department, his lawyers said.
Even when he loses, the billionaire investor Steven A. Cohen manages to find a way to win.
Former SAC Capital Advisors fund manager Mathew Martoma’s securities fraud convictions should stand and he shouldn’t get a new trial for the most lucrative insider-trading scheme ever, U.S. prosecutors said.
A powerful incentive.
SAC Capital Advisors urged a federal judge to approve its record $1.8bn insider-trading settlement with the government, saying the firm is 'deeply remorseful' for the illegal acts of its employees.
Federal regulators on Thursday announced the latest case to stem from the decade-long insider trading investigation into SAC Capital Advisors, taking aim at a former employee for prompting a number of illegal trades.