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, Reuters reports.
Mathew Martoma, 38, of Boca Raton, Florida, was charged last
week in what U.S. prosecutors called "the most lucrative"
insider-trading scheme ever.
Martoma was accused of helping Cohen's firm avoid losses and
reap profits totaling $276 million in the summer of 2008 by using insider tips
he obtained from a doctor about Elan Corp and Wyeth LLC. Martoma worked for CR
Intrinsic, a unit of Cohen's SAC Capital…..
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