Indian-origin Mathew Martoma, convicted for his role in the most lucrative insider trading scheme in US history involving $275 million, will be sentenced in June and could face about 20 years in prison.
The appeals 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.
The finance ministry and several agencies under it such as the Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED), which are investigating the affairs of Sahara India Parivar, are worried about its exposure to National Spot Exchange Ltd (NSEL) products.
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