Monday, September 8, 2014

Courthouse News Service: Mathew Martoma Gets Nine Years for Inside Trading

Courthouse News Service

 MANHATTAN (CN) - Neither the philanthropy, devoted fatherhood or
previously clean criminal record of former S.A.C. Capital executive
Mathew Martoma dissuaded a federal judge on Monday from sentencing him
to 9 years in prison, more time than prosecutors requested, for a $276
million inside-trading scheme involving an Alzheimer's drug.
     "I
cannot and will not ignore that the gain here is hundreds of millions
more than any previous insider trading case ever seen," U.S. District
Judge Paul Gardephe said in the ceremonial courtroom, which was filled
with reporters, lawyers and Martoma's supporters.
     Martoma, who
will head to federal prison in November, "cultivated corrupt
relationships" with two doctors over the course of two years, Gardephe
said.



Mathew Martoma seated during sentencing, flanked by his defense team


Judge Paul Gardephe


Mathew Martoma standing, while being sentenced to 9 years in prison, wife seated far left.

Wednesday, April 2, 2014

Savings and loan figure Charles Keating dies at 90

Savings and loan figure Charles Keating dies at 90









sentencing hearing of Charles Keating drawn by Bill Robles


Charles Keating  was a major player in the savings and loan crisis of the late 1980's and early 90's.  Keating was a banker who ran American Continental/Lincoln Savings and Loan which went bankrupt. Many investors lost their life savings.   His involvement with 5 US Senators, dubbed the Keating Five ignited a huge scandal.

Story link

http://www.nytimes.com/1993/07/09/business/keating-sentence-12-1-2-years.html




Joseph
W. Cotchett who represented the bondholders had represented years
earlier the Los Angles Ram football team and owner Georgia Frontiere
during the lawsuit of Al Davis and the Raiders vs the NFL. Both the
Raiders and the Rams wanted to move their teams, and now, LA has no
football team and the Raiders are back in Oakland.

ILLUSTRATED COURTROOM: CHARLES KEATING 19 years ago

ILLUSTRATED COURTROOM: CHARLES KEATING 19 years ago: sentencing hearing of Charles Keating drawn by Bill Robles Charles  Keating   was a major player in the savings and loan crisis of the l...