NEW YORK — A former investment banker sentenced to two years in prison Tuesday for insider trading says fledging companies looking for advice still trust him with their secrets.
Sean Stewart made the comment before U.S. District Judge Jed Rakoff announced the sentence in Manhattan.
The Yale-educated Stewart had already served over a year of a three-year prison term before his first conviction was overturned on appeal.
A retrial resulted in conviction again on charges including securities fraud and conspiracy to commit wire fraud.
Prosecutors said over $1 million was earned illegally by Stewart’s father and a broker after the son gave his father secrets about five pending mergers involving public health companies from 2011 through 2014. At the time, Stewart was an executive in mergers and acquisitions at JPMorgan Chase & Co. and Perella Weinberg Partners LP.