U.S. charges banker, father in insider trading scheme

Reuters News
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Posted: May 14, 2015 10:41 AM

NEW YORK (Reuters) - U.S. authorities brought criminal charges on Thursday against an investment banker and his father for allegedly engaging in insider trading ahead of five health care mergers.

Sean Stewart, who worked at two different unnamed investment banks during the period at issue, tipped Robert Stewart, his father, about the mergers, enabling him and a business associate to make $1.16 million, according to a criminal complaint filed in Manhattan federal court.

(Reporting by Nate Raymond in New York; Editing by Chizu Nomiyama)