A guilty verdict and an emboldened US attorney

Synopsis

A New York Jury finds former Sac portfolio manager Matthew Martoma guilty of insider trading after a three-week trial. The jury deliberates for only two days before returning a verdict that could lead to a 20-year prison sentence for Martoma. Caris Ganel from the Financial Times reports on the atmosphere in the courthouse, noting Martoma's stoic demeanor as he receives the verdict. Outside the courthouse, he walks with his wife, maintaining a blank expression and declining to comment. The case ties into broader issues of street corruption on Wall Street, as the firm Sac has already pled guilty to insider trading related to Martoma's actions. As Wall Street's bonus season concludes, the implications of this verdict may affect traders' decisions about their future with Steve Cohen, who continues to face scrutiny from prosecutors regarding his trading activities.