Mathew Martoma

Mathew Martoma (born May 18, 1974, as Ajai Mathew Mariamdani Thomas) owns a dry cleaning and laundry company. Both are immigrants from India. He graduated from Duke University and then attended Harvard Law School, but was expelled in 1999 for grade manipulation and dishonesty. After leaving Harvard, he legally changed his name from Ajai Mathew Thomas to Mathew Cochukattil Martoma in 2001.

Martoma worked as a portfolio manager at S.A.C. Capital Advisors. He was hired in 2006 after working for three years at Sirios Capital Management. Martoma owned a $2 million mansion in Boca Raton. This residence was forfeited as part of Martoma's sentencing.

Trial According to the criminal complaint filed by the U.S. Department of Justice, Martoma allegedly advised Steven A. Cohen to sell shares of pharmaceutical companies Wyeth and Elan Corporation based on tips from two doctors, including Sid Gilman of the University of Michigan, about the Alzheimer's disease drug bapineuzumab during clinical trials overseen by the FDA. Martoma was introduced to Gilman by GLG Group, a so-called expert network company. Martoma pleaded not guilty to formal charges of securities fraud, two counts, and conspiracy which resulted in $276 million in profits for SAC Capital in 2008. The insider trading trial began on January 9, 2014 in the United States District Court for the Southern District of New York. A jury of seven women and five men were selected to evaluate the evidence in a courtroom presided by U.S. District Judge Paul Gardephe. On September 8, 2014, Martoma was sentenced to 9 years in prison. In addition, Martoma must forfeit his $9.38 million bonus which he earned in 2008.

In August 2017, a divided panel of the United States Court of Appeals for the Second Circuit upheld the conviction. In June 2018, the again divided panel issued an amended opinion reaching the same result. On June 3, 2019, the Supreme Court declined to hear Martoma's case, leaving his sentence in place. He was released early July 19, 2021.

Personal life Martoma is married to Dr. Rosemary A. Martoma (née Kurian), a pediatrician; the couple have three children.