Reginal Thomas
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Former SAC Portfolio Manager Sentenced to 91/2 years for Insider Trading


Mathew Martoma, the former portfolio manager at Steven A. Cohen's SAC Capital Advisors LP hedge fund, was sentenced to nine years in prison for his role in what is being called the most lucrative insider trading scheme in U.S. history on Monday. U.S. District Judge Paul Gardephe said, "I cannot and will not ignore that the gain is hundreds of millions of dollars more than ever seen in an insider trading prosecution." Among jail time Martoma, has to forefiet $9.3 million and his home in Boca Raton, Florida. The trades in which Martoma was prosectued involved a Alzheimer's drug that was in clinical trial.