SAC Capital Alum Will Do 9 Years For Trading On Material Non-Public Information

Mathew Martoma, he of the "most lucrative insider-trading scheme in history" Martomas, is going to jail for a while, though for less time than the government wanted. Martoma, 40, convicted of making $275 million for SAC by using illegal tips to trade in Elan Corp. and Wyeth LLC, rejected government offers of leniency in exchange for his cooperation in the probe of Cohen and his Stamford, Connecticut-based hedge fund.Martoma was the last of seven former analysts and fund managers from the firm to be convicted, closing a chapter in the pursuit of Cohen by Manhattan U.S. Attorney Preet Bharara.

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