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Stanford strips Martoma of MBA

By
Michelle Celarier
Published March 5, 2014, 8:35 p.m. ET

This could seriously hurt his chances of getting a new job.

Mathew Martoma, the ex-SAC Capital portfolio manager convicted last month of masterminding the biggest insider trading scheme in US history, has been stripped of his prestigious Stanford University MBA, the business school confirmed Wednesday.

The school took the apparently unprecedented step, sources said, after learning that the sullied Martoma — who is staring at a likely prison term of at least 10 years — failed to disclose on his application that he had been kicked out of Harvard Law School two years earlier.

Martoma graduated from Stanford in 2003, but he no longer has a degree, a Stanford spokeswoman told The Post.

The former portfolio manager’s expulsion from Harvard came to light last month when court documents were unsealed at the start of his five-week trial in Manhattan federal court.

That brought the issue to Stanford’s attention.

“Students are asked to share on their application all previous academic programs they’ve been involved in,” said the Stanford spokeswoman.

Stanford’s written policy is to review “evidence that any misrepresentation has been made,” and the university can revoke a degree “if it was found that an individual gained admission through false pretenses.”

Stanford contacted Martoma several weeks ago as part of its review, according to a source familiar with the matter.

The documents revealed that Martoma had not only faked his Harvard transcripts, but he created an elaborate cover-up when confronted with the transgression by officials at the law school.

After he left Harvard, he also changed his name before he enrolled at Stanford.

Martoma was the eighth executive of the Steve Cohen-owned SAC to be convicted of insider trading. His illegal tips earned SAC $275 million in profits and averted losses.

Martoma’s lawyers recently asked for a new trial, in part because the damaging Harvard revelations were unsealed, even though the jury did not hear them.

The 39-year-old married father of three faces 10 to 20 years in prison. Sentencing is set for June 20.

The university’s action was first reported by the Wall Street Journal.