A jury found former SAC Capital portfolio manager Mathew Martoma guilty of insider trading, a verdict that burnishes prosecutors' virtually flawless trial record in such cases in recent years and could bolster a related civil case against the firm's founder, Steven A Cohen.
Martoma was convicted of taking part in what prosecutors say was one of the largest insider-trading schemes ever-illegal trades on two pharmaceutical companies that helped SAC and its traders book profits and avoid losses worth a total of $276 million. With the win, the Manhattan US attorney's office has gone 79-0 in securing convictions or guilty pleas in its recent insider-trading crackdown.