Ex Hedge Fund Manager Mathew Martoma Released on $5M Bail
A former hedge fund portfolio manager accused of enabling a quarter of a billion dollars in profits through inside information is free on bail.
Mathew Martoma appeared in a New York court Monday for the first time and was released on $5 million bail after his 12-minute appearance before a federal magistrate judge.
Matthew Martoma was arrested last week on charges that between 2006 and 2008, he helped to engineer one of the largest inside trading frauds in history. Martoma worked with CR Intrinsic Investors, an affiliate of SAC Capital Advisors. SAC is owned by Steven Cohen, one of the world’s hedge fund manager.