The Traderszone Network

Published in TZ Latest News 12 November, 2014 by The TZ Newswire Staff

SAC’s Martoma loses bid to stay out of prison during appeal

Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen’s SAC Capital Advisors LP hedge fund, on Wednesday lost a bid to stay out of prison while he appeals his insider trading conviction. Circuit Court of Appeals in New York lifted a stay that had enabled Martoma to avoid beginning a nine-year prison sentence for engineering what federal prosecutors called the most lucrative U.S.