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SAC's Matthew Martoma Found Guilty On All Charges

Tyler Durden's picture





 

And so the most lucrative insider trading case in history has just resulted in a criminal conviction.

  • EX-SAC FUND MANAGER MARTOMA FOUND GUILTY OF INSIDER TRADING
  • MARTOMA CHARGED IN MOST LUCRATIVE INSIDER SCAM IN U.S. HISTORY
  • EX-SAC FUND MANAGER MARTOMA FOUND GUILTY ON ALL CHARGES
  • MARTOMA ACCUSED OF ILLEGAL TRADES TIED TO ALZHEIMER'S DRUG

Hopefully Steve Cohen's alleged hush money which bought Martoma's allegiance and silence will be worth it (and still there upon release) to make Martoma's stay in Federal pound me in the ass prison - up to 25 years - more pleasurable.

And some tweets from the regulators:

 


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Thu, 02/06/2014 - 15:25 | Link to Comment obejoyful
obejoyful's picture

He went from a top dog to a bottom bitch.

Thu, 02/06/2014 - 15:29 | Link to Comment clooney_art
clooney_art's picture

25 years of prison will probably be worth it considering the madness envisioned for the future outside protective buildings. If all it takes is some ass pounding, Martoma is one lucky dude.

Thu, 02/06/2014 - 15:38 | Link to Comment redpill
redpill's picture

The term scapegoat has Biblical origins, the ancient Israelites would pick a random goat and send it out into the wilderness, condemning it to almost certain death in order to cleanse themselves of sin.  Wall Street certainly has not forgotten the practice.

Thu, 02/06/2014 - 15:40 | Link to Comment alien-IQ
alien-IQ's picture

Why does the origin of that term not surprise me?

Thu, 02/06/2014 - 15:50 | Link to Comment redpill
redpill's picture

Free Jon Corzine!!!

Thu, 02/06/2014 - 15:53 | Link to Comment alphamentalist
alphamentalist's picture

prisoners are people, too. i am sure they all would love to have a hedgefund manager for a boyfriend. 

Thu, 02/06/2014 - 15:54 | Link to Comment redpill
redpill's picture

Time to bust out the unpublished chapter from the Kama Sutra on prison showers!

Thu, 02/06/2014 - 15:59 | Link to Comment James_Cole
James_Cole's picture

Just me, or does his wife look a wee bit too happy?

http://online.wsj.com/news/articles/SB1000142405270230349680457936705356...

Thu, 02/06/2014 - 15:40 | Link to Comment Divided States ...
Divided States of America's picture

While the ringleader Steven Ass Cohen is still around somewhere benefiting from more insider trading. Its great when the legal system works for you.

Thu, 02/06/2014 - 15:47 | Link to Comment redpill
redpill's picture

And to think this Indian chap thought he was part of the old boys club this whole time. Sorry "Matt" they don't serve curry at the country club!

Thu, 02/06/2014 - 15:52 | Link to Comment Renfield
Renfield's picture

Speaking of that club, another bankster bites the dust:

http://www.silverdoctors.com/4th-banker-in-past-week-found-suicided

Club shrinking all the time!

Thu, 02/06/2014 - 15:49 | Link to Comment Divided States ...
Divided States of America's picture

Yeah I wouldnt want to be a dark complexion guy working on Wall Street....they always end up taking it for the 'J'-team.

Thu, 02/06/2014 - 18:23 | Link to Comment Larry Dallas
Larry Dallas's picture

Ha! Between this guy, Raj and the GS Board Member, its not been a winning streak for Hindu's lately trying to 'make face'... Don't be too aggressive, my punjab friends!

Thu, 02/06/2014 - 16:14 | Link to Comment Overfed
Overfed's picture

25 years of ass pounding? Sheeit. He'll prolly do less than two years in minimum security. And when he gets out, have a load of cash, a hot hooker, and full ounce of blow waiting for him.

Thu, 02/06/2014 - 16:24 | Link to Comment El Hosel
El Hosel's picture

..... Cash, Blow,Hooker, Hot load

Thu, 02/06/2014 - 16:24 | Link to Comment El Hosel
El Hosel's picture

.... Butt Bitch, Bitchez.

Thu, 02/06/2014 - 15:26 | Link to Comment Dr. Engali
Dr. Engali's picture

"to make Martoma's stay in Federal pound me in the ass prison - up to 25 years - more pleasurable.."

 

I don't know, that ass clown might like it.

Thu, 02/06/2014 - 15:29 | Link to Comment -.-
-.-'s picture

"...to make Martoma's stay in Federal pound me in the ass prison - up to 25 years - more pleasurable." 

 

http://www.forbes.com/2006/04/17/best-prisons-federal_cx_lr_06slate_0418...

 

Let us not entirely forget the reality of Justice today

Thu, 02/06/2014 - 15:28 | Link to Comment Iam Yue2
Iam Yue2's picture

Alzheimers ....oh the irony.

Thu, 02/06/2014 - 15:29 | Link to Comment Mercury
Mercury's picture

Especially since they printed the same headline twice...

Thu, 02/06/2014 - 15:31 | Link to Comment buzzsaw99
buzzsaw99's picture

Tire tracks all across your back. I can see you had your fun. [/Crosstown Traffic]

Thu, 02/06/2014 - 15:35 | Link to Comment Major Major Major
Major Major Major's picture

He should have been a congressman

Thu, 02/06/2014 - 15:38 | Link to Comment alien-IQ
alien-IQ's picture

I smell a well timed "heart attack" followed by a closed casket funeral and a new Bahamian citizen with a fat bank account.

Right out of the Ken Lay playbook.

Thu, 02/06/2014 - 16:09 | Link to Comment NotApplicable
NotApplicable's picture

I take it you haven't seen a picture of him? (hint: he's brown)

Thu, 02/06/2014 - 15:39 | Link to Comment Silver Bullet
Silver Bullet's picture

He'll be out in 18 months with a suitcase loaded up with $250M from a most grateful Stevie Cohen.

Thu, 02/06/2014 - 15:43 | Link to Comment JustObserving
JustObserving's picture

Meanwhile, the top dog and top criminal, Steven A Cohen, gets to keep his stolen billions:

Make no mistake, though: this could still be a sweet deal for Cohen, who set up shop twenty years ago with just twenty-five million dollars under management. Assisted by a battalion of high-priced lawyers, he has reached a “global resolution” with the Justice Department that allows him to keep the bulk of the vast fortune—some nine billion dollars, according to the New YorkTimes—that he made running a firm at which insider trading was “substantial, pervasive and on a scale without known precedent in the hedge fund industry.” And, at least for now, Cohen won’t face any criminal charges or the prospect of any jail time.

http://www.newyorker.com/online/blogs/johncassidy/2013/11/has-steven-a-c...

Thu, 02/06/2014 - 20:40 | Link to Comment disabledvet
disabledvet's picture

what's meant by the term "known precedent"?
this District Attorney is 49 for 49.

Here's his picture in case you all think this is all about "shenanigans":
http://en.wikipedia.org/wiki/Preet_Bharara

this guy is the real deal
banned from Russia: http://en.wikipedia.org/wiki/Magnitsky_Act

we'll see how far this investigation goes.
with 400 million stolen from Target should be interesting to see if Congress gets down to the cold hard business of protecting retail's savings accounts.

Thu, 02/06/2014 - 15:47 | Link to Comment Smuckers
Smuckers's picture

With the swing of a gavel, he goes from lucrative to lubricate.

 

Thu, 02/06/2014 - 15:50 | Link to Comment -.-
-.-'s picture

<iframe width="420" height="315" src="//www.youtube.com/embed/S8K31tTV554" frameborder="0" allowfullscreen></iframe>

 

3min&08seconds-N

Thu, 02/06/2014 - 15:57 | Link to Comment El Hosel
El Hosel's picture

Too bad, SAC is not too big to Jail.... Under the wrong umbrella and wearing the wrong cuff links.

Thu, 02/06/2014 - 15:53 | Link to Comment Randoom Thought
Randoom Thought's picture

One wonders how much money it takes to make getting pounded in the ass for 25 years day and night worth it?!? maybe he could get to like it. Maybe he already does.

However, isn't the president/ceo of a company responsible for all of the actions of his employees? If Stevie was a mensch he would substitute his ass for Matthew's at least on every alternate Thursday.

Thu, 02/06/2014 - 15:52 | Link to Comment yogibear
yogibear's picture

He must have pissed-off bigger financial criminals.

Thu, 02/06/2014 - 16:03 | Link to Comment NOZZLE
NOZZLE's picture

Free Blago

Thu, 02/06/2014 - 16:05 | Link to Comment moneybots
moneybots's picture

How can he be convicted when there is equal justice under law?  No banker is in prison.  He is no more guilty than the bankers are.

Thu, 02/06/2014 - 16:06 | Link to Comment kchrisc
kchrisc's picture

"Punish the goy, let the 'tribe' member go." Or was that monkey and organ grinder? I'm not sure.

 

"Guillotines say, bankster, that's what's for dinner."

Thu, 02/06/2014 - 16:07 | Link to Comment TrustWho
TrustWho's picture

Martoma will go to a Federal MINIMUM security prison like Madoff. I will bet he might get 2 years of actual jail experience and will never be abused. If he wpends time correctly, he might get his PhD.

With that said, nice to get one head. Every good organization needs to take a head every once in awhile.

Thu, 02/06/2014 - 16:21 | Link to Comment Tinky
Tinky's picture

I'm just relieved that the marriage is now off. It would have been excruciating to have repeatedly heard tee-vee reports from Maria Bartiromo-Martoma.


Thu, 02/06/2014 - 16:32 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

MW makes a big deal titling that this scumbag is no longer a SAC employee.  Ex SAC employee.....

MW enabler of WS crimes.....

Thu, 02/06/2014 - 16:37 | Link to Comment robnume
robnume's picture

I sentence you to be put in the stock - not a market, folks, - you know, the device with which our forefathers used to publicly punish and humiliate you. After a few weeks of daily "stocking", publicly, of course, there will be a tarring and feathering. Unfortunately, this is ususally fatal, so although we love adult participation in this punishment, better leave little Jane and Johnny at home, unless you feel that observing this American tradition would be helpful to you as regards keeping those little ones in line. Admission is free, except for those making $200,000, or more, anually. You must have proof of income, so bring your last paystub with you. 25 years at Club Fed? I'll bet the guy does a buck or a buck and a half, at the most. These people take care of their own, yo.

Thu, 02/06/2014 - 16:49 | Link to Comment cougar_w
cougar_w's picture

The guy will turn states evidence, pay a small fine, serve 6 months in the county joint, and after that walk right back into a corner office were the nice secretary with the DDD resume is ever so willing, sir.

No ass-pounding, no losses, no noth'n.

Thu, 02/06/2014 - 17:03 | Link to Comment f16hoser
f16hoser's picture

John Corzine lied to Congress under oath. He stold segregated accounts to the tune of >1.4 Billion. Just saying...

Thu, 02/06/2014 - 18:10 | Link to Comment besnook
besnook's picture

man, goyim are not to be trusted. not a single jew has been charged or convicted of any of this massive fraud. they must be the only honest people on the street. even madoff was driven by guilt to confess his dishonesty.

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