From finalternatives.com: more than a month after his arrest, former SAC Capital Advisors portfolio manager Mathew Martoma has been formally indicted.
Martoma was indicted on securities fraud and conspiracy charges on Dec. 21, the Friday before Christmas. Prosecutors say he earned SAC $276 million in the "most lucrative" insider-trading scheme in history, trading on confidential information about Alzheimer's disease drug trials.
Martoma was arrested on Nov. 20 and originally charged in a criminal complaint, as the government reportedly sought his cooperation, as it has won the cooperation of his alleged source.
Prosecutors reportedly want Martoma's help in building a case against SAC founder Steven Cohen; the case against Martoma is the first to refer specifically, if obliquely, to Cohen.
But the indictment was seen by some as a sign that Martoma is continuing to reject a deal with the government. He faces up to 20 years in prison if convicted....
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