Former Banker Convicted Of Insider Trading

Former Perella Weinberg Partners LP banker Sean Stewart was found guilty of tipping off his father to five health-care mergers he learned about at the firm, and previously at JPMorgan Chase & Co. The case is significant for prosecutors who feared such cases would be tough to win after a 2014 appeals court ruling that bulked up the standards the government must meet to prove insider trading. “Insider trading rigs the securities markets in favor of cheaters,” U.S. Attorney in Manhattan, Preet Bharara, said. “We will continue to investigate and prosecute this crime aggressively.” Stewart faces as many as 20 years in prison on the most serious charge.