The Securities and Exchange Commission and the U.S. Attorney for the Southern District of New York charged a father and son with a $1.1 million insider-trading scheme. The SEC said the scheme involved tips of key nonpublic information in coded e-mail messages disguised as discussions about golf. From 2010 to 2014, Sean Stewart, an investment banker formerly at J.P. Morgan and then at Perella Weinberg, passed information to his father Robert, the SEC alleges. The companies that were traded on included Dionex, Kendle International, Kinetic Concepts, Gen-Probe, Lincare Holdings and CareFusion, the SEC says.
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