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Mathew Martoma surfaced yesterday in Manhattan federal court for the first time since he was charged in the “most lucrative” insider-trading scheme in history.
Martoma, who was arrested last Tuesday at his country club home in Boca Raton, Fla., was arraigned and released on $5 million bond secured by $2 million in cash or property.
The former trader for CR Intrinsic, an affiliate of $14 billion hedge fund giant SAC Capital Advisors, was accompanied by his pediatrician wife, Rosemary.
The couple, who were married in 2003 and have three children, held hands as they left the courtroom.
Martoma, 38, stands accused of netting a whopping $276 million for SAC and CR Intrinsic, where he worked until he was fired in 2010.
The feds allege Martoma, a former Harvard law student, was getting confidential information about an Alzheimer’s drug trial from a doctor overseeing the testing.
Steve Cohen, the billionaire boss of SAC, has not been accused of wrongdoing, nor was he named in the complaint against Martoma.
But he was clearly referenced as the “hedge fund owner” who participated in the trade.
Prosecutors who have been trying to build a case against Cohen tried to get Martoma to become a cooperating witness, according to a Wall Street Journal report.
“Mr. Cohen and SAC are confident that they have acted appropriately and will continue to cooperate with the government’s inquiry,” an SAC spokesman said.
Martoma’s attorney, Charles Stillman, declined to comment.