Ex SAC Trader Gets Nine Years

Mathew Martoma, 40, a former trader at SAC Capital Advisors, will spend a good chunk of the prime of his life behnd bars. He was sentenced today to nine years in prison and ordered to forfeit $9.38 million in misbegotten gains for insider trading.

Ex SAC Trader's sentence reflects increased punishment for insider trading

Martoma’s prison sentence, handed down by U.S. District Judge Paul Gardephe, falls behind the two record sentences recently handed down, but nonetheless reflects a growing trend for increased sentences for insider trading. In 2011 hedge fund trader Raj Rajaratnam was slapped with an 11-year insider trading sentence, only to be...