"Mathew Martoma and his hedge fund benefitted from what might be the most lucrative insider tip of all time."

Martoma worked for SAC's Stevie Cohen.

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Manhattan U.S. Attorney Preet Bharara, Robert Khuzami, director of the Securities and Exchange Commission's Division of Enforcement and other officials speak at a news conference in New York to review charges against Mathew Martoma, a former portfolio manager for Steven A. Cohen’s SAC Capital Advisors LP, for an insider-trading scheme that netted as much as $276 million for the hedge fund. Prosecutors charged Martoma with trading on insider tips about clinical trials of bapineuzumab, a drug to treat Alzheimer’s diesease. Martoma, 38, is accused of advising Cohen to sell shares of Wyeth LLC and Elan Corp. before bad news about the drug’s prospects was announced.

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The home of Mathew Martoma stands in the Royal Palm development in Boca Raton.