Sign in to comment!

Menu
Home

Crime & Courts

Ex-hedge fund manager charged in what NY feds call most lucrative insider trading case

Federal authorities in New York have charged a former hedge fund portfolio manager with what they call the most lucrative insider trading scheme in U. S. history, with benefits reaching more than a quarter of a billion dollars.

The charges in federal court in Manhattan were announced Tuesday against Mathew Martoma. The FBI charged him with conspiracy to commit securities fraud, saying he carried out his scheme from 2006 through July 2008 while he worked for CR Intrinsic Investors LLC.

The FBI says the insider trading scheme developed after Martoma met a doctor in Manhattan involved in an Alzheimer's disease drug trial in October 2006. The FBI says in a criminal complaint that he later obtained confidential information related to the final results of a drug trial.

Martoma's attorney did not immediately return a message requesting comment.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.94% up 3.93%  
15 Y Fixed Graph 3.03% -- 3.03%  
30 Y Fixed Jumbo Graph 4.17% up 4.13%  
5/1 ARM Graph 3.33% up 3.27%  
5/1 Jumbo ARM Graph 3.12% up 3.09%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.32% up 4.31%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% dw 5.08%  
$50K Loan Graph 4.48% dw 4.50%  
$75K Loan Graph 4.50% dw 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% dw 2.94%  
36 M Used Graph 3.48% up 3.46%  
48 M New Graph 3.22% dw 3.23%  
48 M Used Graph 3.04% -- 3.04%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% up 0.38%  
1 yr Graph 0.72% up 0.71%  
5 yr Graph 1.50% dw 1.52%  

See the latest updates on the hottest midterm races from Fox News

Full Elections Coverage →

Keep up with all the 2014 races in

Coverage →