Have you ever watched someone who you thought was the best and the brightest make a simple yet huge mistake?
This is the case for one man. Matthew Martoma was once thought of as brilliant young scholar who is now facing possible one of the colossal ethical missteps in history. Martoma is being charged with an insider-trading scheme concerning an Alzheimer’s disease drug trial.
The Wall Street Journal recently published an article about this case. They gave story after story about a young student who showed himself to be “intelligent, ambitious and idealistic”. The WSJ reports:
The arrest has surprised and puzzled some academics who knew Martoma before he aligned himself with a billionaire, SAC Capital Advisors hedge fund owner Steven A. Cohen. They say the criminal behavior prosecutors allege doesn’t match their memories of an intelligent, ambitious and idealistic young scholar.
Ronald Green from the National Institutes of Health who is Martoma’s supervisor from back in the 1990s, called this a tragic story and questioned the truth to it. He is not the only one to be shocked by these allegations. Green stated:
“Bruce Payne, a former Duke professor, stressed Martoma’s strong ethical code when he wrote a recommendation letter for his ex-pupil’s application to Stanford University Graduate School of Business.”
According to the prosecution, however, Martoma befriended a medical professor at the University of Michigan and received information about the drug and its negative outcomes before the public. This valuable information led to a bonus pay of $9 million.
This story goes to show that even the best of us can make mistakes and the consequences can be substantial. This type of white collared crime can be overwhelming; however, you do not have face charges like this alone. Having an experience attorney can make all the difference.
If you need help with a white collar crime charge, please call me.