Investment banker gets 3-year prison term over inside tips

AP News
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Posted: Feb 17, 2017 4:40 PM

NEW YORK (AP) — An investment banker convicted of insider trading charges that he fed tips to his father has been sentenced in New York to three years in prison.

A federal judge announced the sentence Friday for Sean Stewart. She ordered Stewart to spend a year in home detention during probation and perform 200 hours of community service.

Stewart was convicted last summer after a jury concluded he shared secrets while working as an executive in mergers and acquisitions at JPMorgan Chase & Co. and Perella Weinberg Partners LP.

He maintained his innocence at his sentencing, though he acknowledged making "serious mistakes."

The judge refused Stewart's request to serve no more than a year in prison but sentenced him to less than the five years recommended by federal sentencing guidelines.