Feb 6 - Former SAC Capital portfolio manager Matthew Martoma was convicted of insider trading. Conway G. Gittens reports.
Notch up another one in favor of the government in a crackdown on Wall Street. Former SAC Capital fund manager Matthew Martoma - found guilty in the most lucrative insider trading scheme in U.S. history. Martoma was convicted on all three charges of conspiracy and securities fraud believed to have netted $275 million. This is the eighth guilty verdict tied to billionaire Steven A. Cohen's $14 billion hedge fund. The reputation of the hedge fund and its founder has been tarnished greatly by the government's decade long investigation into unlawful activity.