Former hedge fund manager charged with $250 mln insider trades

NEW YORK Tue Nov 20, 2012 10:21am EST

NEW YORK Nov 20 (Reuters) - U.S. prosecutors in New York announced insider trading charges on Tuesday against Mathew Martoma, a former hedge fund manager.

The prosecutors said the case is thought to be the most lucrative insider trading scheme ever found, with illicit gains from the trades totaling more than $250 million.

The insider tips focused on drug companies.

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