Mathew Martoma, an Indian-origin hedge fund portfolio manager has pleaded not guilty to charges that he participated in one of the “most lucrative” insider trading schemes in the U.S. — totalling $276 million.

Federal prosecutors have accused Mr. Martoma (38) of using material, non-public information that he received from a doctor in 2008 on the clinical trial of an Alzheimer’s disease drug to make profits and avoid losses for SAC Capital Advisors in an amount totalling approximately $276 million. Mr. Martoma faces 20 years in prison if convicted. — PTI