CUNY Bronx Community Colleg Prison for Stock Tips Article Summary summarize the article and wrote which criminal justice agency it deals with and why. Law

CUNY Bronx Community Colleg Prison for Stock Tips Article Summary summarize the article and wrote which criminal justice agency it deals with and why. Law enforcement, courts or corrections? PRISON FOR STOCK TIPS
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9:10 6
TIO
Ex-investment banker
gets 3-year prison sentence
Was accused of passing
inside information to father
BY JOHN RILEY
john.riley@newsday.com
O
the rules by talking about confi-
dential information, but contin-
ued to insist he didn’t commit
inside trading.
“In my heart and in my mind,
I know that I did not commit a
crime,” said Stewart, who was
making $500,000 a year at the
height of his earning power. “I
know that to be true. I also
know, however, that I made
very serious mistakes.
Stewart, who now
Manhattan, told Swain that the
case had laid waste to his life-
“utterly devastated” his mother,
“destroyed” his relationship
with his father, “embarrassed”
his wife and was likely to color
his future with his 4 /2-year-
old son. “It haunts me every sin-
gle day,” he said.
Federal sentencing guide-
lines called for Stewart to get
a minimum prison term of 63
months. But Swain said they
18 were high due to the $1 mil-
Sean Stewart, formerly of Long Island, testified that he didn’t know his father was going to trade on tips. lion-plus in gains, most of
which went to Cunniffe, and
as they applied to everyone Robert Stewart and an asso- lenberg High School valedicto- credited Stewart for showing
else and betrayal of the “trust” ciate who became a govern- rian, testified at trial that he “true remorse” for what he
placed in him by his clients and ment witness, Richard Cun- carelessly mentioned ongoing did.
employers.
niffe, made more than $1 mil- deals during conversations After his three years in
Stewart, 35, a banker special- lion trading on the tips from with his parents but didn’t prison, she said Stewart will be
izing in health care deals at JP- 2011 to 2015. Robert Stewart got know his dad was trading, and on home confinement for one
Morgan Chase & Co. and no jail time after telling Swain said that after he learned of the year after his release, and she
Perella Weinberg Partners, was that he was an indispensable first trade, his father had ordered him to pay a $7,500
convicted last year of passing caregiver for his wife. Cunniffe promised to stop.
fine. She gave him until June 6
tips on five imminent deals to hasn’t been sentenced.
At his sentencing, he ac- to report to prison. Stewart’s
his accountant father.
Sean Stewart, a former Kel- knowledged that he had broken lawyer said he plans an appeal.
Sean Stewart, the Long Is-
land-bred former investment
banker convicted of passing
stock tips to his North Merrick
father, was sentenced to three
years in prison in federal court
in Manhattan yesterday.
U.S. District Judge Laura Tay-
lor Swain, unswayed by a plea
for leniency from the onetime
financial highflier, told Stewart
she believed he had lied under
oath when he testified last year
that he didn’t know his father,
Robert, was going to trade on
the tips.
“He chose personal appear-
ances, convenience and family
benefits over the ethical duties
his employers placed on him,”
Swain said as the tall, blond for-
mer Yale crew athlete looked
on, accompanied in court by
his mother, Claudia, and es-
tranged wife, Elizabeth.
The judge also slammed
Stewart for his “general atti-
tude” that “rules … did not
apply to him in the same way”
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