On Friday former Evercore Group investment banker Frank Perkins Hixon Jr. was sentenced to two and a half years in prison by U.S. District Judge Ronnie Abrams in New York for his involvement in an insider trading scheme, Reuters reports. Hixon paid his insider trading profits to his former mistress so that he could maintain a relationship with their child.
Abrams also fined Hixon $100,000 and ordered him to disgorge around $710,000 of his gains from the scheme. Hixon, who was a senior managing director with Evercore’s mining and metals group, was also ordered to pay his former company around $1.2 million in restitution, The Wall Street Journal reports.
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