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A federal appeals court on Wednesday denied Mathew Martoma’s request to throw out his insider-trading conviction.
Martoma is one of 11 inside traders ensnared in Bharara’s dragnet who’ve gone to trial — and the second from SAC.
A three-judge panel of the Second Circuit Court of Appeals rejected the plea in a 2-1 decision.
Martoma’s prosecution came near the climax of a long-running insider-trading investigation run by then-Manhattan US Attorney Preet Bharara.
The Newman ruling also tripped up Bharara’s probe and led to the lawman dropping cases against several defendants.
The appeals court on Wednesday found that Bharara successfully proved that Martoma’s tipster, Dr.
The info, obtained from a doctor working on clinical trials of a drug to treat Alzheimer’s disease, was used to make trades that netted Martoma’s employer — SAC Capital, owned by legendary trader Steve Cohen — $275 million, court testimony revealed.