Indian-origin hedge fund manager Mathew Martoma freed on $5 million bond

November 27, 2012

indian_origin

New York, November 27: An Indian-origin hedge fund portfolio manager, charged with participating in one of the "most lucrative" insider trading schemes ever, has been released on a five million dollar bail after he appeared in Manhattan federal court here.

Mathew Martoma, 38, appeared in a brief court hearing yesterday before US magistrate Judge James Cott and was informed of his rights as a criminal defendant.

Martoma, who was arrested last week at his home in Boca Raton, Florida, did not enter any plea and the judge set a next court hearing of December 26.

Martoma has been charged with using material, non-public information that he received from a doctor on the clinical trial of an Alzheimer's disease drug to make profits and avoid losses for his hedge fund in an amount totaling approximately 276 million dollars.

The US Securities and Exchange Commission have also filed a civil insider trading case against him on similar charges.

A Stanford University graduate, Martoma is the son of Indian immigrants and was born Ajai Mathew Mariamdani Thomas. He later changed his name in 2003.

Under the new bail requirements, Martoma would have to post two million dollars in cash or property by next week.

While free on bail, his movements will be restricted within the US.

Manhattan's top federal prosecutor Preet Bharara had last week brought the charges against Martoma, who had worked with CR Intrinsic Investors, an affiliate of SAC Capital Advisors. SAC is owned by hedge fund titan Steven Cohen, who is among one of the richest men in the world.




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News Network
June 17,2020

Beijing, Jun 17: China said Wednesday it wanted to avoid further clashes with India along their border after the first deadly confrontation between the two nuclear powers in decades.

The two countries have traded blame for Monday's high-altitude brawl that left at least 20 Indian soldiers dead, with China refusing to confirm so far whether there were any casualties on its side.

Chinese foreign ministry spokesman Zhao Lijian insisted again Wednesday that it was Indian troops who illegally crossed the border and attacked the Chinese side.

This led to "a serious physical confrontation between both sides that caused deaths and injuries", Zhao said at a regular briefing, without providing more details about the casualties.

He said China urges India to "strictly restrain frontline troops, do not illegally cross the border, do not make provocative gestures, do not take any unilateral actions that will complicate the border situation".

But he added that the two sides "will continue to resolve this issue through dialogue and negotiations".

"We of course don't wish to see more clashes," Zhao said.

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Indian baba
 - 
Wednesday, 17 Jun 2020

we have 56 inch chest man as our leader...he alone will fight the war and give victory to india..jai bakth

 

 

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News Network
June 29,2020

Paris, Jun 29: More than half a million people have been killed by the novel coronavirus, nearly two thirds of them in the United States and Europe, according to an news agency tally at 2200 GMT Sunday based on official sources.

The official death count for the disease now stands at 500,390 deaths from 10,099,576 cases recorded worldwide. The United States has suffered the highest death count (125,747), followed by Brazil (57,622) and the United Kingdom (43,550).

The tallies, using data collected by AFP from national authorities and information from the World Health Organization (WHO), probably reflect only a fraction of the actual number of infections.

Many countries are testing only the most serious cases.

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April 5,2020

Washington, Apr 5: US President Donald Trump on Saturday said that he has requested Prime Minister Narendra Modi to supply Hydroxychloroquine tablets that can be used to treat COVID-19 patients.

"After call today with Indian Prime Minister Narendra Modi, India is giving serious consideration to releasing the hold it put on a US order for hydroxychloroquine," Trump announced at the White House Coronavirus task force briefing that he requested PM Narendra Modi for more Hydroxychloroquine tablets.

President Trump did not shy away from saying he too will take a tablet of hydroxychloroquine after announcing that he has requested Prime Minister during his telephonic conversation earlier today to lift a hold on the US order of the medicine.

"I may take it too, will have to talk to my doctors," he added.

"India makes a lot of it. They need a lot too for their billion-plus people. 

The hydroxychloroquine, the anti-malaria drug will be released through the Strategic National Stockpile for treatment," he said.

"I said I would appreciate if they would release the amounts that we ordered" of hydroxychloroquine, he said.

The Indian government has put on hold the export of anti-malarial drug hydroxychloroquine and its formulations.

Prime Minister Narendra Modi said on Twitter, "Had an extensive telephone conversation with President @realDonaldTrump. 

We had a good discussion, and agreed to deploy the full strength of the India-US partnership to fight COVID-19."

Prime Minister conveyed deep condolences for the loss of lives in the United States and his prayers for the early recovery of those still suffering from the disease.

As on Sunday, the United States has at least 301,902 cases of coronavirus according to Johns Hopkins University's tally. 

At least 8,175 people have died in the US from coronavirus.

There was a steep rise in the number of cases in the last 24 hours. At least 23,949 new cases were reported, and at least 1,023 new deaths in the US have been reported in the last 24 hours.

US Secretary of State Michael Pompeo had discussions with External Affairs Minister S Jaishankar about the importance of continued close cooperation between the United States and India to combat coronavirus by strengthening global pharmaceutical supply chains.

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