Michael Bowe Comments on Insider Trading Assets Claimed by Mathew Martoma’s Wife

Michael Bowe Comments on Insider Trading Assets Claimed by Mathew Martoma’s Wife

After former S.A.C. Capital Advisors portfolio manager Mathew Martoma was found guilty in what authorities have called one of the most lucrative insider-trading schemes in history, Martoma’s wife has asked the court to allow her to retain her share of the couple’s assets, including the $9.3 million Martoma reaped from his illegal trading. Martoma's wife asserts that she should be able to keep half of the properties, because she “agreed to give up her career, and care for the household and children, based on the promise that she would have equal, joint ownership of all income derived from the defendant’s work outside of the household.” Quoted in the New York Post, Kasowitz partner Michael Bowe explained the weakness of her argument: “If one spouse steals money, the other spouse doesn’t get to keep it just because she quit work.”

Click to view the New York Post article, entitled “Rosemary Martoma wants her half of husband’s ill-gotten gains.”