If Raj got 11 years for making $90m, what is Martoma facing? You'd think he'd tell the Feds whatever they want to hear, true or not, given the sentence he's facing.
Plus he's got no allegiance to Stevie, right? They paid him big, but then he got fired a few years ago.
The timing makes it appear as though the Feds had this strong case against Martoma for some time. They've been trying to get him to turn on Stevie, but now they've come to the conclusion that it's not going to happen, so they'll charge Martoma and throw him away.
Thoughts? Start a "how many years will Martoma get" pool?
I'll go with 18.
SAC looks like its in the clear according to the WSJ article. Even if Martoma did turn, I don't think they could get legitimate dirt on him.
Interesting note, that those who have plead guilty have face "little to no time in prison".
Yea I heard SAC is in the clear, and the statement from the lawyer seems confident... That was the Squawk on the Street this morning, anyway...
The Feds are licking their chops to get at Steve and SAC. They won't get him via Martoma - but don't be surprised if these investigations keep up. Getting an insider case to stick against a guy like Cohen is the prosecutorial equivalent of engineering and closing the biggest M&A deal in a decade. I don't think they are letting up anytime soon.
On Martoma - I think he gets less than 10 (but not by much). The headline number of $276mm is huge, but I imagine his lawyers will successfully argue that the real number is lower.
cohen is one shady son of a bitch...
Several high profile insider trading investigations and numerous stock manipulation investigations, a straight L/S equity fund that has delivered 30%+ year after year, and a focus on healthcare and technology stocks (big surprise).
But the smug little charlatan will probably retire before they can nail him.
SAC returns are going to be dog shit going forward. Insider trading was all they did there.
Correct
SAC's Mathew Martoma Found Guilty (Originally Posted: 02/06/2014)
http://online.wsj.com/news/articles/SB10001424052702303496804579367053560716722?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303496804579367053560716722.htmls http://www.bloomberg.com/news/2014-02-06/ex-sac-fund-manager-martoma-found-guilty-in-insider-case.htmlHe gamed the system his whole life. Kicked out of Harvard for changing his transcript from Bs to As then creating a fake forensic company to claim it wasn't him. Changed his name and lied his way into Stanford's MBA program. Then commits the largest insider trading case ever. He'll probably be out of jail in 5 years either by escaping and changing his identity or early release for some reason.
Yeah, I'd love to see how this plays out
Suprise Suprise!
If you ain't cheatin', you ain't tryin'.
http://dealbreaker.com/2014/02/what-does-mathew-martomas-conviction-really-mean/
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