{"id":5854,"date":"2015-08-12T00:00:00","date_gmt":"2015-08-12T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/08\/dad_of_exjpmorgan_banker_plead"},"modified":"2015-08-12T00:00:00","modified_gmt":"2015-08-12T05:00:00","slug":"dad-of-exjpmorgan-banker-plead","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/dad-of-exjpmorgan-banker-plead\/","title":{"rendered":"Dad of Ex-JPMorgan Banker Pleads Guilty to Insider Trading"},"content":{"rendered":"

The father of a former JPMorgan (JPM)<\/a> banker has pleaded guilty to taking part in an insider trading ring with his son. Robert Stewart will forfeit $150,000 and faces five years behind bars. <\/p>\n

According to the U.S. Justice Department, Stewart\u2019s son, Sean Stewart, allegedly gave his father tips about upcoming deals, including information about a number of acquisitions and mergers. The older Stewart divulged some of the tips to Richard Cunniffe, who has also pleaded guilty in the conspiracy. Cunniffe is now a cooperating witness.<\/p>\n

The DOJ said that in early 2011, Sean, who was a JPMorgan Vice President in the Healthcare Investment Banking Group, began tipping his dad about numerous deals. The first one was about the acquisition of Kendle International Inc.\u2014a deal that he worked on. Robert made nearly $8,000 by buying Kendle stock. The second deal involved the acquisition of Kinetic Concepts Inc. After Sean went to go work at Perella Weinberg, he allegedly continued to provide insider tips to his dad.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The father of a former JPMorgan (JPM) banker has pleaded guilty to taking part in an insider trading ring with his son. Robert Stewart will forfeit $150,000 and faces five years behind bars. According to the U.S. Justice Department, Stewart\u2019s son, Sean Stewart, allegedly gave his father tips about upcoming deals, including information about a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3811,3958],"tags":[],"class_list":["post-5854","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-insider-trading","category-jp-morgan-chase"],"yoast_head":"\nDad of Ex-JPMorgan Banker Pleads Guilty to Insider Trading — Investor Lawyers Blog — August 12, 2015<\/title>\n<meta name=\"description\" content=\"The father of a former JPMorgan (JPM) banker has pleaded guilty to taking part in an insider trading ring with his son. 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