EX-SAC Cap­i­tal fig­ure in­dicted in fraud case

Austin American-Statesman - - BUSINESS -

NEW YORK — A former SAC Cap­i­tal Ad­vi­sors port­fo­lio man­ager was in­dicted Fri­day on se­cu­ri­ties fraud and con­spir­acy charges in a case that fed­eral pros­e­cu­tors have called the most lu­cra­tive in­sider-trad­ing scheme ever un­cov­ered.

A fed­eral grand jury in Man­hat­tan in­dicted the former port­fo­lio man­ager, Mathew Mar­toma, a month af­ter the government ar­rested him on charges that he used in­side tips about a clin­i­cal drug trial to help SAC earn prof­its and avoided losses to­tal­ing $276 mil­lion.

While Stam­ford, Conn.based SAC has been touched by sev­eral in­sider-trad­ing cases in re­cent years, in this case the government has tied ques­tion­able trades to Steven Co­hen, the bil­lion­aire owner of SAC.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.