Former SAC Capital Advisors LP manager Mathew Martoma, charged with trading on illicit tips on an Alzheimer’s drug, got some of his information from New Jersey physician Joel Ross, two people familiar with the matter said.
Bloomberg News reports that Ross is the physician identified in the revised indictment against Martoma filed Aug. 22 as Doctor-2, who prosecutors said provided confidential information to Martoma about a drug trial in July 2008, said the people with knowledge of the investigation who weren’t authorized to speak because it isn’t public.
Prosecutors in the office of Manhattan U.S. Attorney Preet Bharara’s said the second source, identified in court papers only as 'Doctor-2' conducted paid consultations with Martoma, which were arranged through an unidentified 'financial services firm' that provided expert networking services to SAC, the hedge fund company founded by Steven A. Cohen.
In the SAC indictment, prosecutors claimed that two unidentified SAC health-care analysts exchanged e-mails with Cohen on April 11, 2008, and the next day about information they’d gotten through a paid consultation with an unidentified clinical investigator on the trial of the Alzheimer’s drug.
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