Friday 18 April 2014
News updated at 7:16 PM IST
Weather
Max: 34.6°C
Min : 22.1°C
In Bangalore
Sunny day

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 potter making earthen pots during summer season in Mirzapur on Friday. PTI Photo

A potter making earthen pots during summer season in Mirzapur on Friday. PTI Photo

Samajwadi Party workers attempt self-immolation with kerosene oil during a protest against ...

Samajwadi Party workers attempt self-immolation with kerosene oil during a protest against ...

Members of People for the Ethical Treatment of Animals (PETA), dressed as bloodied rabbits ...

Members of People for the Ethical Treatment of Animals (PETA), dressed as bloodied rabbits ...

Mutupallaku fesitval procession at Coonoor near Ooty on Friday. PTI Photo

Mutupallaku fesitval procession at Coonoor near Ooty on Friday. PTI Photo

A girl child kissing a statue of Jesus Christ on the occasion of Good Friday at The Sacred Heart...

A girl child kissing a statue of Jesus Christ on the occasion of Good Friday at The Sacred Heart...

Devotees carry holy cross as they participate in a ‘Good Friday’ at Thamarasseri in Kozhikode...

Devotees carry holy cross as they participate in a ‘Good Friday’ at Thamarasseri in Kozhikode...

Bihu Samragi, Himashree Saikia (C), Bihu Rani, Hiranmoee Kalita (R and Bihu Kuwari, Murchana ...

Bihu Samragi, Himashree Saikia (C), Bihu Rani, Hiranmoee Kalita (R and Bihu Kuwari, Murchana ...

Bollywood actor Vivek Oberoi taking pictures at the Golden Temple in Amritsar on Friday. PTI Photo

Bollywood actor Vivek Oberoi taking pictures at the Golden Temple in Amritsar on Friday. PTI Photo

President Pranab Mukherjee felicitates film Bhoonath Returns' casts after the screening of the ...

President Pranab Mukherjee felicitates film Bhoonath Returns' casts after the screening of the ...

President Pranab Mukherjee with Amitabh Bachchan after the screening of the special show of...

President Pranab Mukherjee with Amitabh Bachchan after the screening of the special show of...

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