Saturday, November 29, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Ex-trader: US-suggested sentence ‘outrageous’

By
From page B7 | May 29, 2014 |

NEW YORK  — Lawyers for a former portfolio manager say prosecutors’ recommendation that he serve up to 20 years in prison for insider trading is “outrageous” and “irrational.”

Mathew Martoma’s lawyers said in papers filed late Tuesday that a judge at his sentencing next month would have to believe Martoma teamed up with his billionaire boss, Steven A. Cohen, to conclude he deserves such stiff punishment.

The Probation Department recommended Martoma receive from 15.7 to 19.6 years in prison, which would be greater than the record dozen years a former attorney received in Newark, N.J., after he admitted giving secrets during a 17-year insider trading scheme.

The Associated Press

The Associated Press

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