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Ex-Perella Banker Convicted of Tipping Dad on Health Mergers

  • Stewart jury rejects claims that father deceived son on trades
  • Verdict is ‘devastating’ Stewart’s mother tells reporters
Updated on

Jurors found a former Perella Weinberg Partners LP banker guilty in a major victory for prosecutors worried a recent appeals court ruling had tied their hands in fighting insider trading.

Sean Stewart, 35, was convicted of tipping his father to five health-care mergers he learned about at Perella Weinberg and previously at JPMorgan Chase & Co. In convicting Stewart on all nine counts, the jurors rejected claims that he’d been betrayed by his father, who lied to him about trading off inside information.