New York

Investment banker blames father at NY insider trading trial

The lawyer for an investment banker on trial for insider trading has blamed the man's father for betraying his son by making illegal trades that made over $1 million.

Attorney Mark Gombiner (GAHM'-by-nur) told jurors Wednesday in New York City federal court that Sean Stewart never expected his father to betray his love, trust and confidence. The father, Robert Stewart, has pleaded guilty and was sentenced to a year of home detention.

Gombiner spoke after Assistant U.S. Attorney Brooke Cucinella (soo-sih-NEHL'-uh) said the government will prove Sean Stewart repeatedly gave insider tips to his father while he worked at JPMorgan Chase & Co. and Perella Weinberg Partners LP.

She said the father used trading profits to cover some of his son's wedding costs.

Gombiner said the wedding claims are nonsense.