FILE- In this July 27, 2016 file photo, Sean Stewart, left, leaves Manhattan federal court in New York with his lawyer, Mark Gombiner, after opening statements in Stewart's insider trading trial. The Yale-educated investment banker was convicted of insider trading charges Wednesday, Aug. 17, 2016, after a jury concluded he gave tips about mergers and acquisitions to his father, enabling over $1 million in illegal profits. (AP Photo/Larry Neumeister, File) (The Associated Press)
NEW YORK – A New York jury has found a Yale-educated investment banker guilty of insider trading charges resulting from tips he gave his father about mergers and acquisitions.
The verdict in the trial of Sean Stewart was returned Wednesday in Manhattan federal court. Defense lawyers argued that the former executive for JPMorgan Chase & Co. and Perella Weinberg partners LP had no idea when he casually talked about his job that his father would trigger securities trades that made over $1 million.
Prosecutors said evidence made it obvious the son tipped his father intentionally.
Stewart testified he did nothing wrong, though he acknowledged breaking employer rules when he talked openly about secret deals when he was around his family.
His father, Robert, has pleaded guilty and been sentenced to one-year home detention.
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