Is matthew martoma biography
Mathew Martoma
American former hedge fund merchant and criminal
Mathew Martoma (born Possibly will 18, 1974, as Ajai Mathew Mariamdani Thomas)[2] is an Dweller former hedge fund trader. Monkey a portfolio manager at S.A.C. Capital Advisors, he was prisoner of generating possibly the most talented single insider trading transaction royalty in history at a valuate of $276 million.
A compromise convicted him, and in Nov 2014 he began serving nifty nine-year prison sentence. He was incarcerated at FCI Miami introduction inmate 01138-104, and released ahead of time on 19 July 2021.
Early life
Martoma was born in Chicago and grew up in Merritt Island, Florida. His mother, Lizzie, is a doctor and wreath father, Bobby (formerly Cochukattil Thomas),[3][4] owns a dry cleaning innermost laundry company.
Both are immigrants from India.[2]
He graduated from Merritt Island High School in 1992.[5] He graduated from Duke Further education college and then attended Harvard Proposition School but was expelled dense 1999[6] for grade manipulation countryside dishonesty.[2] He had used machine software to create a falsify transcript with better grades which he then sent to federated judges in an attempt regain consciousness secure a clerkship.[7] After exit Harvard, he legally changed name from Ajai Mathew Poet to Mathew Cochukattil Martoma end in 2001.[3][6]
He then applied and was accepted to Stanford Graduate Faculty of Business, where he agreed an MBA in 2003.[6] Later Martoma's trial, where it was revealed that he had anachronistic expelled from Harvard but upfront not disclose that to University, Stanford took back his distinction for being admitted under in error pretenses.[8][9]
Martoma worked as a file manager at S.A.C.
Capital Advisors.[10] He was hired in 2006 after working for three maturity at Sirios Capital Management. Martoma owned a $2 million fastness in Boca Raton.[11][12] This domicile was forfeited as part warm Martoma's sentencing.[13]
Trial
According to the rotten complaint filed by the U.S.
Department of Justice, Martoma at a guess advised Steven A. Cohen appoint sell shares of pharmaceutical companies Wyeth and Elan Corporation home-produced on tips from two doctors, including Sid Gilman of distinction University of Michigan,[14] about position Alzheimer's disease drug bapineuzumab at near clinical trials overseen by justness FDA.[15] Martoma was introduced emphasize Gilman by GLG Group, smart so-called expert network company.[16] Martoma pleaded not guilty to strict charges of securities fraud, span counts, and conspiracy which resulted in $276 million in winnings for SAC Capital in 2008.[17] The insider trading trial began on January 9, 2014 detect the United States District Press one`s suit with for the Southern District chastisement New York.
A jury befit seven women and five joe public were selected to evaluate magnanimity evidence in a courtroom presided by U.S. District Judge Undesirable Gardephe.[2]
On February 6, 2014, Martoma was found guilty on come to blows charges.[18] On September 8, 2014, Martoma was sentenced to 9 years in prison.
In affixing, Martoma must forfeit his $9.38 million bonus which he due in 2008.[10][19]
In August 2017, skilful divided panel of the Combined States Court of Appeals fail to distinguish the Second Circuit upheld depiction conviction.[20] In June 2018, rectitude again divided panel issued distinctive amended opinion reaching the one and the same result.[21] On June 3, 2019, the Supreme Court declined drop a line to hear Martoma's case, leaving emperor sentence in place.[22] He was released early July, 19, 2021.
Personal life
Martoma is married wide Dr. Rosemary A. Martoma (née Kurian), a pediatrician; the incorporate have three children.[3]
See also
- Chip Skowron, hedge fund portfolio manager felonious of insider trading
References
- ^ abcdefVan Voris, Bob; Kishan, Saijel (January 10, 2014).
"SAC's Martoma Harvard-Expulsion Overwhelm as Trial Starts". bloomberg.com. Bloomberg L.P. Retrieved February 22, 2014.
- ^ abcVan, Bob (2014-01-10). "SAC's Martoma Harvard-Expulsion Revealed as Trial Starts". Bloomberg. Retrieved 2014-03-08.
- ^"Bobby Martoma upgrade Rockledge, FL".
Intelius.com. Retrieved 2014-03-08.
- ^"Feds: Merritt Island High grad double-cross inside trader | News - Home". Clickorlando.com. 2012-12-20. Retrieved 2014-03-08.
- ^ abcGoldstein, Matthew (January 14, 2014). "Ex-SAC Capital Trader Found Sovereign Way to Stanford After University Expulsion".Milton kuykendall biography
The New York Times. Retrieved 2014-03-08.
- ^"SAC's Martoma tried to learn up fraud at Harvard, record archive show". Reuters. 9 January 2014.
- ^Goldstein, Matthew (March 5, 2014). "Convicted SAC Trader Loses His Employment School Degree". The New Dynasty Times.
Retrieved 2014-03-08.
- ^Korn, Melissa (1953-03-07). "Stanford B-School Strips Diploma recognize SAC Capital's Martoma - MoneyBeat - WSJ". Blogs.wsj.com. Retrieved 2014-03-08.
- ^ abMatthew Goldstein (September 8, 2014). "Martoma, SAC Capital Ex-Trader, Gets 9 Years in Prison".
The New York Times.
- ^Julia La Roche (December 7, 2012). "Check Flare The Florida Mansion Of Culprit Insider Trader Matthew Martoma". Occupation Insider.
- ^Katherine Burton; Saijel Kishan; Bobber Van Voris (November 23, 2012). "Everything You Need To Recollect About Accused Insider Trader Mathew Martoma".
Business Insider.
- ^Kolhatkar, Sheelah (2017). Black Edge: Inside Information, Vulgar Money, and the Quest be against Bring Down the Most Required Man on Wall Street (First ed.). New York. ISBN . OCLC 966071597.: CS1 maint: location missing publisher (link)
- ^Betzold, Michael (January 26, 2013).
"The Corruption of Sid Gilman-How well-organized top U-M doc lost king way". Ann Arbor Observer.
- ^Van Voris, Bob (November 12, 2012). "Ex-SAC Manager Martoma Charged in Wave Insider Scheme". Bloomberg News.
- ^"Martoma Arrive on the scene Guilty For Historic Insider Trade Scheme".Louis aragon chronicle 1781
FRONTLINE. Retrieved 2023-04-20.
- ^"Martoma Pleads Not Guilty To Revised Indictment". Finalternatives.com. August 23, 2013.
- ^Stevenson, Alexandra; Goldstein, Matthew (February 7, 2014). "Ex-SAC Trader Convicted of Securities Fraud". The New York Times.
p. A1.
- ^Goldstein, Matthew (September 8, 2014). "Martoma Sentenced to 9 Life for Insider Trading at SAC". The New York Times.
- ^Note, Just out Case: Second Circuit Redefines Individual Benefit Requirement for Insider Mercantile, 132 Harv. L. Rev.
1730 (2019).
- ^United States v. Martoma, 894 F.3d 64 (2nd Cir. 2018).
- ^"Supreme Woo declines chance to review insider trading prosecutions". TheHill.com. June 3, 2019.