A former portfolio manager in Florida was convicted and sentenced to nine years in prison on Monday after helping his firm earn more than a quarter-billion dollars through an illegal insider trading scheme. Mathew Martoma, an ex-trader from Boca Raton, earned his firm SAC Capital Advisors more than $275million through an insider trading scheme where he cultivated a relationship with two doctors that later provided tips. U.S. District Judge Paul Gardephe said the sheer amount of the record-setting fraud merited the long sentence. Scroll down for video . Going inside: Mathew Martoma, 40, a former portfolio manager for SAC Capital Advisors, was sentenced on Monday to 9 years for a record-breaking insider trading scheme . Martoma, 40, left federal court in Manhattan hand in hand with his wife. Gardephe ordered him to begin serving the sentence in November for his February conviction on charges of conspiracy and two counts of securities fraud. Martoma had flattered and enriched two doctors with inside information about the secret results of an Alzheimer's drug trial so they would tip him off and he could trade ahead of public announcements. The tips enabled SAC Capital Advisors, based in Stamford, Connecticut, to earn more than $275million illegally. The success caused the firm, headed by billionaire Steven A. Cohen, to reward him with more than $9million in bonuses. The judge ordered Martoma to forfeit $9.3million, including his home and banks accounts holding millions of dollars in the names of him and his wife. Family man: Martoma left the courthouse holding hands with his wife Rosemary. He has three children ages 9, 7 and 5 . Long trip: U.S. Attorney Preet Bharara said Martoma 'traded his liberty, his name and his time with his family for what in the end is nothing.' Martoma declined to comment before the sentence. As the judge announced the sentence, saying "the sums here are staggering in size," Martoma stood and looked straight ahead, and his wife wiped her eyes with a tissue. The judge said the illegal edge Martoma obtained as he traded in the stocks was a crime that is "deeply corrosive to our markets" and caused people to be cynical about the financial industry. "The gain here is hundreds of millions of dollars more than has ever been seen in an insider trading prosecution," the judge said. He rejected requests by Martoma's defense attorney, Richard Strassberg, that he receive a sentence of two to three years in prison because of his charitable work. He also rejected claims based on the need to take care of his wife and three children, ages 9, 7 and 5. U.S. Attorney Preet Bharara said in a statement that the "long and short of Mathew Martoma's trading is that he traded his liberty, his name and his time with his family for what in the end is nothing." Strassberg had insisted Martoma made a sensible decision to sell the bloated stocks of the pharmaceutical companies that sponsored the drug trial. At the trial, Sidney Gilman, a former professor of neurology at the University of Michigan Medical School, testified he gave Martoma secret results of the drug trial sponsored by Elan Corporation and Wyeth nearly two weeks before they were publicly announced in the summer of 2008. Gilman, once one of the world's top Alzheimer's experts, said he was charmed by Martoma. He said he seemed more knowledgeable about his work than hundreds of other financial professionals who paid Gilman more than $1million over several years for consultations. SAC Capital pleaded guilty in November to fraud charges and agreed to pay $1.8billion to settle charges that it allowed, if not encouraged, insider trading for more than a decade. Cohen has disputed the allegations involving his company.
Mathew Martoma, 40, earned his firm, SAC Capital Advisors, more than $275million through insider trading .
Martoma cultivated a relationship and enriched two doctors who provided him with secret information about drug trials before the market knew .
As a result of the trades, SAC Capital Advisors gave bonuses of $9million to Martoma .
U.S. District Judge Paul Gardephe said the scale of the insider trading eclipsed other schemes by 'hundreds of millions of dollars' more .
SAC Capital Advisors agreed to pay $1.8billion to settle charge that it allowed, if not encouraged, insider trading to continue .
A former portfolio manager in Florida was convicted and sentenced to nine years in prison on Monday after helping his firm earn more than a quarter-billion dollars through an illegal insider trading scheme. Mathew Martoma, an ex-trader from Boca Raton, earned his firm SAC Capital Advisors more than $275million through an insider trading scheme where he cultivated a relationship with two doctors that later provided tips. U.S. District Judge Paul Gardephe said the sheer amount of the record-setting fraud merited the long sentence. Scroll down for video . Going inside: Mathew Martoma, 40, a former portfolio manager for SAC Capital Advisors, was sentenced on Monday to 9 years for a record-breaking insider trading scheme . Martoma, 40, left federal court in Manhattan hand in hand with his wife. Gardephe ordered him to begin serving the sentence in November for his February conviction on charges of conspiracy and two counts of securities fraud. Martoma had flattered and enriched two doctors with inside information about the secret results of an Alzheimer's drug trial so they would tip him off and he could trade ahead of public announcements. The tips enabled SAC Capital Advisors, based in Stamford, Connecticut, to earn more than $275million illegally. The success caused the firm, headed by billionaire Steven A. Cohen, to reward him with more than $9million in bonuses. The judge ordered Martoma to forfeit $9.3million, including his home and banks accounts holding millions of dollars in the names of him and his wife. Family man: Martoma left the courthouse holding hands with his wife Rosemary. He has three children ages 9, 7 and 5 . Long trip: U.S. Attorney Preet Bharara said Martoma 'traded his liberty, his name and his time with his family for what in the end is nothing.' Martoma declined to comment before the sentence. As the judge announced the sentence, saying "the sums here are staggering in size," Martoma stood and looked straight ahead, and his wife wiped her eyes with a tissue. The judge said the illegal edge Martoma obtained as he traded in the stocks was a crime that is "deeply corrosive to our markets" and caused people to be cynical about the financial industry. "The gain here is hundreds of millions of dollars more than has ever been seen in an insider trading prosecution," the judge said. He rejected requests by Martoma's defense attorney, Richard Strassberg, that he receive a sentence of two to three years in prison because of his charitable work. He also rejected claims based on the need to take care of his wife and three children, ages 9, 7 and 5. U.S. Attorney Preet Bharara said in a statement that the "long and short of Mathew Martoma's trading is that he traded his liberty, his name and his time with his family for what in the end is nothing." Strassberg had insisted Martoma made a sensible decision to sell the bloated stocks of the pharmaceutical companies that sponsored the drug trial. At the trial, Sidney Gilman, a former professor of neurology at the University of Michigan Medical School, testified he gave Martoma secret results of the drug trial sponsored by Elan Corporation and Wyeth nearly two weeks before they were publicly announced in the summer of 2008. Gilman, once one of the world's top Alzheimer's experts, said he was charmed by Martoma. He said he seemed more knowledgeable about his work than hundreds of other financial professionals who paid Gilman more than $1million over several years for consultations. SAC Capital pleaded guilty in November to fraud charges and agreed to pay $1.8billion to settle charges that it allowed, if not encouraged, insider trading for more than a decade. Cohen has disputed the allegations involving his company.
ex-trader from Boca Raton, earned his firm SAC Capital Advisors more than $275million through an relationship with two doctors that later provided tips. U.S. District Judge Paul Gardephe said the inside: Mathew Martoma, 40, a former portfolio enriched two doctors with inside information Martoma secret results of the drug trial knowledgeable about his work than hundreds of November to fraud charges and agreed to pay $1.8billion to settle charges that it allowed, if not encouraged, insider trading for more than a