Contact Us

Prosecutor Presents Case In Insider Trading Trial

Dow Jones Average Slips Downward As Traders React To Selloff In Emerging Markets
Photo by Spencer Platt/Getty Images

NEW YORK (AP) — 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.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Best of News Talk 940

Recommended For You

Around the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://voiceofamarillo.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for VOA VIP Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive VOA VIP Club contests, events, coupons, presales, and much more delivered to you for FREE.