Insider trading: Another Indian-origin fund manager in Preet Bharara net

Jan 07 2014, 16:48 IST
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Preet Bharara has led US government's massive crackdown on insider trading and won convictions against prominent Wall Street executives like Rajat Gupta. Preet Bharara has led US government's massive crackdown on insider trading and won convictions against prominent Wall Street executives like Rajat Gupta.
SummaryMathew Martoma allegedly participated in one of the 'most lucrative' insider trading schemes worth $276 min.

who chaired the Safety Monitoring Committee (SMC) for the trial.

Martoma obtained inside information about the drug trial that the doctor Sidney Gilman learned at the SMC meetings and through other communications with drug companies Elan and Wyeth.

Bharara has led the government's massive crackdown on insider trading and won convictions against prominent Wall Street executives like ex-Goldman director Rajat Gupta and billionaire hedge fund founder Raj Rajaratnam.

Since October 2009, 78 people have either pleaded guilty or been convicted on insider trading charges.

The trial comes close on the heels of last month's insider trading conviction of another SAC employee, Michael Steinberg, and SAC's guilty plea in November to insider trading charges.

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