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Nov 26, 2012

Ex-SAC manager granted $5 mln bail in trading case

NEW YORK, Nov 26 (Reuters) – A former SAC Capital portfolio
manager was released on $5 million bail on Monday after making
his first appearance in a New York court on charges of making
illegal trades that hedge fund titan Steven A. Cohen personally
signed off on.

Mathew Martoma, 38, of Boca Raton, Florida, was charged last
week in what U.S. prosecutors called “the most lucrative”
insider-trading scheme ever.

Nov 26, 2012

Ex-SAC manager granted $5 million bail in insider-trading case

NEW YORK (Reuters) – A former SAC Capital portfolio manager was released on $5 million bail on Monday after making his first appearance in a New York court on charges of making illegal trades that hedge fund titan Steven A. Cohen personally signed off on.

Mathew Martoma, 38, of Boca Raton, Florida, was charged last week in what U.S. prosecutors called “the most lucrative” insider-trading scheme ever.

Nov 21, 2012

Legal, financial fallout loom for SAC in insider trading case

BOSTON/NEW YORK (Reuters) – The fallout from the latest insider trading case against a former SAC Capital Group employee could reverberate throughout Steven A. Cohen’s $14 billion (8 billion pounds) hedge fund and impact the billionaire trader himself even though he has not been charged with any wrongdoing.

U.S. securities regulators, in charging former SAC Capital employee Mathew Martoma with insider trading, are also seeking to force the division where he worked to disgorge $276 million (172 million pounds) that was the result of the illicit trades.

Nov 21, 2012

U.S. charges ex-SAC manager in $276 million insider scheme

NEW YORK (Reuters) – U.S. prosecutors on Tuesday charged a former SAC Capital employee with insider trading in a series of transactions that hedge fund titan Steven A. Cohen had personally signed off on.

In what they called “the most lucrative” insider-trading scheme ever, prosecutors alleged that Mathew Martoma helped Cohen’s firm avoid losses and reap profits totaling $276 million in the summer of 2008 by using insider tips he got from a doctor about Elan Corp and Wyeth LLC.

Nov 20, 2012

Ex-SAC manager charged in $276 million insider scheme

NEW YORK, Nov 20 (Reuters) – A former hedge fund manager who
worked for a fund affiliated with Steven A. Cohen’s SAC Capital
was arrested on Tuesday in what U.S. prosecutors are calling
“the most lucrative insider-trading scheme ever.”

Mathew Martoma, who worked for CR Intrinsic Investors in
Stamford, a unit of SAC Capital, has been accused of making more
than $276 million in illicit profits based on tips about Elan
Corp and Wyeth LLC, which was bought by Pfizer
in late 2009.

Nov 20, 2012

Former SAC fund manager charged over insider trading

NEW YORK (Reuters) – A former hedge fund manager who worked for a fund affiliated with SAC Capital was arrested on Tuesday in what U.S. prosecutors say could be the most lucrative insider trading scheme ever charged.

Mathew Martoma, who worked for CR Intrinsic Investors, a unit of SAC Capital, has been accused of making more than $250 million in illicit profits based on tips about Elan Corp and Wyeth, which was bought by Pfizer in late 2009.

Nov 19, 2012

New Jersey starting to handle more insider trading cases

NEW YORK (Reuters) – New Jersey’s U.S. prosecutor’s office is picking up more insider trading cases, edging into territory that has historically been dominated by the federal prosecutors in New York City.

The most recent case was unveiled on Monday when prosecutors in Newark announced charges against six people – three of whom were friends from high school – for their alleged roles in an insider-trading ring. The six have been charged for passing tips to each other about healthcare companies which generated $1.4 million in illegal profits.

Nov 17, 2012

Sandy cleanup turns popular New York beach parking lot into dump

NEW YORK (Reuters) – Last summer it was packed with beachgoers, a parking lot where New Yorkers stashed their cars, applied sunscreen and dragged lawn chairs, coolers and umbrellas across the blacktop toward the shore.

Today it’s an enormous waste collection site half a mile long and a quarter-mile wide, piled high with debris from the flooding caused by storm Sandy.

Nov 3, 2012

Power returns to lower Manhattan, but many waiting

NEW YORK, Nov 3 (Reuters) – The lower Manhattan skyline lit
up early Saturday morning for the first time since superstorm
Sandy slammed into the U.S. Northeast while thousands of storm
victims in New Jersey and elsewhere remained in the dark and
awaiting disaster relief.

The power restoration came as gasoline supplies headed to
coastal zones devastated by the record storm surge and to
motorists whose patience has been tested by gasoline rationing
during the painstaking effort to rebuild.

Nov 3, 2012

Power, fuel ease US storm woes, but many still waiting

NEW YORK, Nov 3 (Reuters) – While power returned to much of
Manhattan and fuel supplies were headed for the disaster zone,
residents of some of the hardest-hit areas faced a long wait for
electricity and help after superstorm Sandy’s devastating strike
on the U.S. Northeast.

With the U.S. presidential election just three days away, at
least 3.5 million homes and businesses remained without power in
a region choked with storm debris and long gas lines reminiscent
of the 1970s-era U.S. fuel shortage. Angry residents wondered
when their lives would return to normal.

    • About Emily

      "Based in New York covering financial crimes, including insider trading, investment scams, accounting fraud and financial firm misconduct."
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