The 39-year-old Mathew Martoma is embroiled in what prosecutors have called the most lucrative insider trading episode in U.S. history. Martoma, who worked in SAC Capital Advisors' CR Intrinsic Investors division, is accused of using confidential information to trade stocks of the drug's developers, Elan Corp Plc and Wyeth, currently owned by Pfizer Inc.
According to the solicitor acting for the Iranian bank Bank Mellat, Sarosh Zaiwalla, the UK government needs to honor the supreme court ruling that lifted all sanctions against Iran with regard to trading in the UK. The bank is reportedly asking for as much as £1 billion in damages due to the 5-year trading ban, the Guardian said.
US Bankruptcy Judge Stuart Bernstein approved JPMorgan Chase & Co's to pay $325 million to Bernard Madoff lawsuit trustee Irving Picard and another $218 million to settle two other cases that Picard helped file, Bloomberg said in a report.
Investigative journalist and author Gary Weiss has spent much of his career exposing the vagaries and excesses of Wall Street. Weiss has devoted much of his career exposing corrupt corporate officials. His efforts have been a rallying cry for investigative reporters worldwide who believe in the tenets of truth.
