Sign in to comment!

Menu
Home

Crime & Courts

Prosecutor in NY: Evidence proves SAC Capital ex-trader from Fla. is guilty of insider trading

A prosecutor says an avalanche of evidence at the New York trial of a former SAC Capital Advisors hedge fund portfolio manager proves he is guilty of insider trading.

Assistant U.S. Attorney Eugene Ingoglia (ihng-NOH'-lee-uh) delivered a closing argument Monday at the trial of Mathew Martoma.

The prosecutor says Martoma corrupted doctors to divulge secret information about the testing of what investors hoped would be a breakthrough Alzheimer's drug. He says Martoma learned results nearly two weeks before they were publicly announced in July 2008, giving SAC a total of $275 million in combined profits and avoided losses.

Martoma has pleaded not guilty. The Boca Raton, Fla., resident remains free on bail.

The Stamford, Conn.-based company has pleaded guilty to fraud charges and agreed to pay $1.8 billion.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.90% dw 4.01%  
15 Y Fixed Graph 3.01% dw 3.13%  
30 Y Fixed Jumbo Graph 4.29% up 4.27%  
5/1 ARM Graph 3.19% dw 3.26%  
5/1 Jumbo ARM Graph 3.85% up 3.84%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.37% dw 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.64% up 4.63%  
$50K Loan Graph 4.25% -- 4.25%  
$75K Loan Graph 4.25% -- 4.25%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.07% up 3.06%  
36 M Used Graph 3.29% up 3.28%  
48 M New Graph 3.06% up 3.04%  
48 M Used Graph 2.95% dw 2.96%  
60 M New Graph 3.13% up 3.12%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.63% up 0.62%  
5 yr Graph 1.48% dw 1.51%