Valuewalk staff report: Government officials are trying to
get former SAC Capital portfolio manager Mathew Martoma “to flip against” the
hedge fund company’s founder Steve Cohen on insider trading allegations,
according to FOX Business senior correspondent Charlie Gasparino. Gasparino
goes on to report that Martoma has “refused past attempts” and that “at least
for now shows no signs of giving into the government’s demands” as SAC Capital
“is now paying for his high-profile, and highly paid attorney, Charles Stillman.
“Government officials had high hopes that Mathew Martoma,
the latest former executive from SAC Capital to be implicated in the
government’s burgeoning investigation of insider trading, could provide
evidence that would finally implicate the probe’s ultimate target: Steve Cohen,
the fund company’s billionaire founder. But people close to the investigation
say Martoma has refused past attempts to provide evidence against his old boss
and at least for now shows no signs of giving into to the government’s demands.
And they say Martoma has a powerful incentive not to cooperate because SAC,
which hasn’t employed him for about two years, is now paying for his
high-profile, and highly paid attorney, Charles Stillman.”
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