Mathew Martoma Sentenced to 9 yrs for insider trading
September 09, 2014 08:41
Mathew Martoma, accused of insider trading that earned his employer SAC Capital $275 million -- and himself a $9.38 million bonus -- has been sentenced to a nine years in a Florida prison. He was sentenced to nine and five years on charges of conspiracy and two of securities fraud. The sentences run concurrently.
US District Judge Paul Gardephe said that he had considered 140 letters that described Martoma's compassion, his devotion to his family, and the fact that he had no criminal record, but decided that there was a darker side to Martoma's character, as seen in the fact that he had forged a Harvard transcript, and later hidden his expulsion from that institution when he applied to Stanford, and where he went on to earn an MBA.
US District Judge Paul Gardephe said that he had considered 140 letters that described Martoma's compassion, his devotion to his family, and the fact that he had no criminal record, but decided that there was a darker side to Martoma's character, as seen in the fact that he had forged a Harvard transcript, and later hidden his expulsion from that institution when he applied to Stanford, and where he went on to earn an MBA.
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