NEW YORK – An investment banker at a Manhattan firm and his father have been charged with using inside information to trade in securities of five health care companies.
The charges were contained in a criminal complaint unsealed Thursday in Manhattan federal court against Sean Stewart and his father, Robert. Sean Stewart is a managing director at Perella Weinberg Partners LP.
Federal prosecutors, consistent with a policy that often leads them not to identify financial institutions when employees are arrested, did not identify the firm. But the firm said in a statement it was cooperating with prosecutors.
The firm said the charges were unprecedented in its history and Stewart was suspended. Sean Stewart surrendered in Middleton, Wisconsin. His father was released on $500,000 bail in Manhattan. Their attorneys did not immediately return messages seeking comment.