Mathew Martoma wins bid to delay prison term

Mathew Martoma, 40, who was sentenced in Federal court last month for his role as the 'central figure' in the most lucrative insider trading scheme ever involving $275 million, has won his bid to delay his surrender to prison next week, until an appellate panel decides on his motion to remain free on bail pending the appeal of his conviction. Last month Martoma moved the court for bail pending appeal but the US Court of Appeals in an order, said Martoma's motion for bail pending appeal is referred to a three-judge motions panel, and would be heard as soon as possible. The court granted Martoma's request to extend his November 10 surrender date until an appellate panel hears and decides on his motion for bail pending appeal. Martoma's prison sentence, among the longest handed down for insider trading, was in line with what Manhattan's federal prosecutor Preet Bharara had sought ahead of the hearing.