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A former hedge fund manager was charged Tuesday in what prosecutors are calling the most lucrative insider trading scheme ever, with ill-gotten gains totaling more than $250 million.
The former hedge fund manager, Matthew Martoma,?worked for some time for SAC Capital, according to sources who confirmed his employment history with Reuters on Tuesday.
Martoma, who has been charged with trading on inside information on some drug companies, worked at CR Intrinsic Investors, a unit of SAC. Reuters said his lawyer was not immediately available for comment.
Reuters contributed to this report.
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Source: http://www.nbcnews.com/business/ex-hedge-fund-manager-charged-250m-insider-scam-1C7172261
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