Balkany's assertions were further proven correct when in November 2012 federal prosecutors levied charges against additional former SAC Capital traders. Portfolio manager Michael Steinberg was arrested in March 2013 and accused of using inside information to make $1.4 million in profits for SAC Capital. In June 2013 nine former SAC employees were charged with conspiracy and securities fraud. With the conviction of Mathew Martoma on February 6, 2014 after a speedy four week trial, a total of eight former SAC Capital employees have been found guilty.