Ex-SAC manager granted bail

A former SAC Capital portfolio manager was released on $5m bail yesterday after making his first appearance in a New York court on charges of making illegal trades that hedge fund titan Steven A Cohen personally signed off. Mathew Martoma, 38, of Boca Raton, Florida, was charged last week in what US prosecutors called “the most lucrative” insider-trading scheme ever. Cohen was not charged with wrongdoing.