NEW YORK [Reuters : 20 November 2012] -- U.S. prosecutors charged a former SAC Capital employee with insider trading about a series of transactions that hedge fund titan Steven Cohen had personally signed off on.

In what prosecutors called "the most lucrative" insider-trading scheme ever, they allege Mathew Martoma helped SAC Capital to avoid losses and reap profits totaling $276 million in the summer of 2008 by using non-public information gleamed from a doctor about Elan Corp. and Wyeth LLC announcements.

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