Ex-Lazard Banker Convicted of Insider Trading in Germany (2)

A former Lazard Ltd. banker was convicted of insider dealing after he was accused of helping an accomplice make millions from illicit trades.

The ex-banker -- who can only be identified as D.R. -- worked at the lender’s merger unit in Frankfurt and had access to in-house opinions on deals in the works. German judges handed him a suspended sentence on Friday.

The two men bet that shares of targets in the deals would rise once those opinions became public. The transactions include the takeover bid by Carlyle Group Inc. and Bain Capital for Osram Licht AG in 2018 and ...