Ex-SAC Trader Martoma Gets 9 Years For $275M Scheme

Law360, New York (September 8, 2014, 4:40 PM EDT) -- Mathew Martoma, the former SAC Capital Advisors LP manager convicted of orchestrating a $275 million insider trading scheme that prosecutors have called the most lucrative in history, was sentenced in New York federal court on Monday to nine years in prison.

The sentence, delivered by Judge Paul G. Gardephe, is among the longest ever in an insider trading case. Martoma was convicted Feb. 6 of one count of conspiracy and two counts of securities fraud. Prosecutors said he earned $275 million in profits and avoided losses...
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