A former hedge fund portfolio manager has pleaded not guilty to insider trading charges after authorities said he persuaded a medical professor to leak secret data from an Alzheimer's disease drug trial.
Mathew Martoma appeared Thursday in federal court in Manhattan. He remains free on bail.
Martoma is charged with engineering a record-setting inside trade scheme that earned more than a quarter-billion dollars in illegal profits.
He was arrested in November at his $2 million Palm Beach County, Fla., home on securities fraud and conspiracy charges.
He is a former portfolio manager at an affiliate of the Stamford, Conn.-based firm owned by Steven A. Cohen.
REUTERS
Mathew Martoma in November
Martoma is the fourth person associated with SAC Capital to be arrested on insider trading charges in the past four years.
Ex-SAC Capital hedge-fund manager Martoma pleads not guilty to insider-trading charges
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Ex-SAC Capital hedge-fund manager Martoma pleads not guilty to insider-trading charges
