Former Perella Weinberg Partners LP managing director Sean Stewart was convicted of insider trading, the second time a federal jury has found the banker guilty and a win for prosecutors after losing their smoking gun.
The case was as much family tragedy as courtroom drama. Stewart was accused of leaking information on five health-care mergers to his father. While he never got any of the profit, his father and two associates raked in $1.1 million from trading on the tips they received from 2011 to 2014, prosecutors said. Stewart’s father got probation after pleading guilty.