Martoma seeks freedom during appeal before 9 year prison term

Prison Bars

Former SAC Capital portfolio manager Mathew Martoma, scheduled to begin a nine-year prison sentence Nov. 10 for what the U.S. called the most lucrative insider-trading scheme ever charged against an individual, asked a court to let him stay free while he appeals.

Bloomberg News reports that Martoma, 40, isn’t a risk to flee and will raise 'substantial questions' in his appeal that may lead to a reversal of his February conviction, his lawyer, Richard Strassberg, told U.S. District Judge Paul Gardephe in Manhattan in a letter Friday.

Martoma, who hasn’t submitted his opening brief with the federal appeals court in New York, argued in a trial court filing after his conviction that the jury lacked sufficient evidence to convict him. He also claimed jurors must have been prejudiced by reports of Martoma’s 1999 expulsion from Harvard Law School for creating a phony transcript of his grades. Gardephe denied the request to throw out the verdict.

Hit the link below to access the complete Bloomberg News article:

SAC Fund Manager Martoma Seeks to Stay Free During Appeal

Austrian Downsized Bank Heads Show ECB Health Exam’s Bite

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News