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NEW YORK — A federal jury in Manhattan on Thursday convicted Mathew Martoma on insider trading charges in what may be the last criminal case to emerge from a decade-long investigation of Steven A. Cohen and his SAC Capital Advisors hedge fund.
The jury of seven women and five men found Martoma, a former SAC portfolio manager, guilty of seeking out confidential information related to a clinical trial for an experimental Alzheimer’s drug. The inside information — provided mainly by a doctor familiar with the results of the clinical trial who was the government’s main witness — helped SAC avoid losses and generate profits totaling $275 million in July 2008.
The 39-year-old former trader, who is married and has three young children, is expected to face a prison sentence of seven to 10 years.