4
GUYANA CHRONICLE Friday February 7, 2014
At prayer breakfast, Obama talks faith and foreign policy Obama said religious freedom, protected by the first amendment of the U.S. Constitution, was under threat around the world and he singled out China and Burma, also known as Myanmar, as countries that needed to do better on the issue. “When I meet with Chinese
I stress that realizing China’s potential rests on upholding universal rights, including for Christians, and Tibetan Buddhists, and Uighur Muslims,” Obama said to applause.
pastor and due to false rumors he was a Muslim. WASHINGTON- (Reuters) The president reflected - President Barack Obama briefly about his religious jourpressed for greater religious ney at the breakfast - highfreedom in China and offered lighting his Christianity - and prayers for U.S. prisoners in emphasized its role in his life “GRATEFUL” North Korea and Iran yesteras a community organizer in Obama, a Christian, does day during remarks at an anChicago and his later career nual prayer breakfast in public service. that highlighted his “I’m grateful not only Christian faith. because I was broke and the Obama, who atchurch fed me, but because it tended the breakfast led to everything else. It led at a Washington hotel me to embrace Jesus Christ with his wife, Michelle, as my Lord and Savior. It led used the high profile me to Michelle, the love of event to renew calls for my life, and it blessed us with the release of two men two extraordinary daughters,” held by U.S. adverObama said. saries in Asia and the “It led me to public serMiddle East. vice. And the longer I serve, “We pray for Kenespecially in moments of trial neth Bae, a Christian or doubt, the more thankful I missionary who’s been am of God’s guiding hand.” held in North Korea for The Obamas do not at15 months ... His famtend services regularly in ily wants him home. Washington, though they And the United States will continue to do ev- U.S. President Barack Obama applauds as he and First Lady occasionally walk across the erything in our power Michelle Obama attend the National Prayer Breakfast in street to a church near the to secure his release,” Washington, yesterday (Credit: Reuters/Kevin Lamarque) White House on special occasions. Obama said. The national prayer “We pray for Pasbreakfast is billed as an event not talk frequently about his tor Saeed Abedini. He’s been leaders - and we do a lot of busiwhere Republicans and Demown faith, which was a big issue held in Iran for more than 18 ness with the Chinese, and that in the 2008 presidential camocrats set aside their political months, sentenced to eight years relationship is extraordinarily paign because of inflammatory in prison on charges relating to important not just to our two differences to focus on faith remarks by his former Chicago his Christian beliefs.” countries but to the world - but and religion. By Jeff Mason
SAC Capital’s Martoma found guilty of insider trading By Nate Raymond NEW YORK-(Reuters) - Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen’s SAC Capital Advisors hedge fund, was found guilty yesterday of engaging in what prosecutors called the most lucrative insider trading scheme in U.S. history. A federal jury in Manhattan found Martoma guilty on all three of the conspiracy and securities fraud charges that he faced over a scheme that allowed SAC Capital to make profits and avoid losses of $275 million. The verdict was the eighth insider trading conviction of a current or former employee at SAC Capital, a $14 billion hedge fund that has long been in federal authorities’ cross-hairs. Martoma gave no apparent reaction as the verdict was read. His wife, Rosemary, sat up in her seat in court as the verdict was read, with tears going down her face. They exited the court holding hands. As news photographers snapped pictures, Martoma walked stone-faced out of the courthouse and into a waiting SUV with his wife and defense team. They did not speak to reporters. “We are very disappointed and we plan to appeal,” Richard Strassberg, Martoma’s lawyer, said through a spokesman. No sentencing date was immediately set. Martoma, 39, faces up to 45 years in prison. The verdict came after a different jury in the same courthouse in December convicted Michael Steinberg, a portfolio manager at SAC Capital, on five conspiracy and securities fraud counts for his role in a separate insider trading scheme. SAC Capital last year agreed to pay $1.8 billion in criminal and civil settlements and plead guilty to fraud charges stemming from insider trading by its employees. The U.S. Securities and Exchange Commission is meanwhile seeking to bar Cohen from the financial services industry for failing to supervise Martoma and Steinberg. The conviction continued an unbroken winning streak at trial for federal prosecutors in New York, who have secured guilty pleas or verdicts against 79 individuals since October 2009 as part of a broad crackdown on insider trading on Wall Street. “This unbroken string of wins for the government in insider trading cases will have huge impact,” said Thomas Gorman, a defense lawyer at law firm Dorsey & Whitney. “It’s getting widely circulated, so it does have a chilling effect of those in the trading business considering insider trading.” “GRAIN OF SAND” Martoma, who worked in SAC’s CR Intrinsic Investors division, was accused of seeking out confidential information from doctors involved in a clinical trial of an Alzheimer’s drug being developed by Elan Corp Plc and Wyeth, now owned by Pfizer Inc. Based on a tip Martoma received a doctor about negative trial results for the drug, SAC Capital in July 2008 began selling its $700 million position in Elan and Wyeth before the data was made public later that month, prosecutors said. “Martoma bought the answer sheet before the exam - more than once - netting a quarter billion dollars in profits and losses avoided for SAC, as well as a $9 million bonus for him,” Manhattan U.S. Attorney Preet Bharara said. During the trial, prosecutors said that most of the trading took place in accounts controlled by Cohen. They also said that Martoma had a 20-minute phone call with Cohen after receiving information about the negative results. While Cohen has not been criminally charged, Sidney Gilman, the doctor who tipped Martoma, said at trial that an FBI agent on approaching him the first time had called Martoma a “grain of sand” in what was an investigation of Cohen.
DATE: 01/02/2014 B 07 10 20 28 15 25 27 DATE: 05/02/2014 K 26 19 06 20 24 03 09
30/01/2014
09
19
21
06
01
30/01/2014
31/01/2014
08
20
06
19
03
31/01/2014
01/02/2014 03/02/2014
01 19
04 11
05 21
07 04
13 12
01/02/2014 03/02/2014
0 1 2 2
4 0 5 5
2
30/01/2014
14 21 10 17 08 12 03
9
31/01/2014
14 18 13 05 12 02 20
1
01/02/2014
02 04 06 09 11 16 21
03/02/2014
20 15 10 21 05 11 18
05/02/2014
15 17 01 08 06 05 20
06/02/2014
08 14 19 06 03 12 11
4
05/02/2014
14
12
22
16
20
05/02/2014
6
0
06/02/2014
21
22
07
14
15
9
06/02/2014
2
8
2