Thursday 24 April 2014
News updated at 8:36 AM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day
Breaking News

Indian-origin man held for insider trading

New York, Nov 26, 2012, PTI:

An Indian-origin hedge fund portfolio manager will appear in the Manhattan federal court after he was arrested last week and charged with participating in a $ 276 million insider trading scheme involving Alzheimer’s disease drug trial.

Charges against Mathew Martoma, 38, have been brought by Manhattan's top federal prosecutor, India-born Preet Bharara, who has led the government's massive crackdown on insider trading and won convictions against prominent Wall Street executives like ex-Goldman director Rajat Gupta and billionaire hedge fund founder Raj Rajaratnam.

Martoma was arrested at his home in Boca Raton, Florida,  last week. He has been charged with using material, non-public information that he received from a doctor on the clinical trial of an Alzheimer’s disease drug to make profits and avoid losses for his hedge fund.


A report in “The New York Times” cited legal records and said Martoma is the son of Indian immigrants and was born Ajai Mathew Mariamdani Thomas. He changed his name in 2003.
He was raised in Florida and spent a year and a half at Harvard Law School, from where he dropped out to earn a business degree at Stanford University.

Go to Top

Photo Gallery
A woman with her son watches from a window the election campaign rally of National Conference...

A woman with her son watches from a window the election campaign rally of National Conference...

People get their face painted to create awareness on importance of voting in Mumbai on Wednesday...

People get their face painted to create awareness on importance of voting in Mumbai on Wednesday...

Girls display placards to create awareness on voting in Guwahati on Wednesday. PTI Photo

Girls display placards to create awareness on voting in Guwahati on Wednesday. PTI Photo

Artists make paintings of Sachin Tendulkar to wish him on the eve of his birthday in Moradabad...

Artists make paintings of Sachin Tendulkar to wish him on the eve of his birthday in Moradabad...

Police personnel ride a 'jugaad' on their way to polling booths on the eve of Lok Sabha elections...

Police personnel ride a 'jugaad' on their way to polling booths on the eve of Lok Sabha elections...

Girls learn martial arts during a self defense training camp in Faridabad on Wednesday. PTI Photo

Girls learn martial arts during a self defense training camp in Faridabad on Wednesday. PTI Photo

A woman voter showing inked finger to her children during repolling at a polling booth in Kochi...

A woman voter showing inked finger to her children during repolling at a polling booth in Kochi...

A honeybee caught feeding on nectar in ...

A honeybee caught feeding on nectar in ...

Models walk the ramp displaying jewellery during a fashion show in Chandigarh on Wednesday...

Models walk the ramp displaying jewellery during a fashion show in Chandigarh on Wednesday...

Devotees pray and take dip on the banks of the river Ganges, in Varanasi. AP Photo

Devotees pray and take dip on the banks of the river Ganges, in Varanasi. AP Photo

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523