Former SAC Capital portfolio manager Mathew Martoma lost a bid to remain free while he fights a conviction for perpetrating the most lucrative insider-trading scheme in U.S. history, as a federal judge expressed doubt that his appeal will succeed.
Martoma’s lawyers had argued his appeal would raise 'several close questions' including whether evidence in his favor was improperly excluded and his sentence was 'unreasonable.' Martoma had also asked Gardephe to delay his surrender date to prison.
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