A former hedge fund portfolio manager charged in one of history's biggest insider trading cases is set to appear in a New York federal court.
Mathew Martoma's court date Monday is largely procedural, though there could be some discussion of the $5 million bail set for him last week in Florida. He was arrested there in the New York-based case.
U. S. Attorney for the Southern district of N.Y. Preet Bharara speaks at a news conference, Tuesday, Nov. 20, 2012, in New York. Mathew Martoma, a former hedge fund portfolio manager was arrested Tuesday on charges that he helped carry out the most lucrative insider trading scheme in U.S. history, enabling investment advisers and their hedge funds to make more than $276 million in illegal profits. (AP Photo/Louis Lanzano) Close
The Manhattan U.S. attorney's office says Martoma connived to get secret, advance results from tests of an Alzheimer's disease drug. Prosecutors say Martoma used the information to make more than $276 million for CR Intrinsic Investors LLC and other funds.
They say it may be the most lucrative U.S. insider trading scheme ever.
Defense lawyer Charles Stillman says Martoma just worked hard and went after public information.
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