Preet Bharara is looking for a tough sentence for former SAC Capital portfolio manager Mathew Martoma, who was convicted of the largest-ever insider trading crime.
The US Attorney for Manhattan asked a federal judge on Friday to impose a prison sentence toward the “high end” of similar crimes — the longest being 11 years for Galleon Group’s Raj Rajaratnam.
Bharara’s office said it “does not oppose” a sentence below the guidelines of 15.6 to 19.7 years but asked for more than the eight years the probation department has recommended.
A Manhattan federal jury convicted Martoma of helping SAC earn profits and avoid losses of $275 million.
“Given the magnitude of the crime, a significant sentence is needed to promote respect for the law, provide just punishment, and deter others,” Bharara’s office said in its sentencing memorandum.