Banker seeks reduced prison term following 'misguided expression of love'

American courtroom

A sad tale.

Former Evercore investment banker Frank Perkins Hixon Jr., who pleaded guilty to insider trading prosecutors said was intended to generate funds to pay child support, asked for a prison term of less than four years.

Bloomberg News reports that Hixon said his trading was intended to ensure he remained in contact with his child, conceived during a two-year extramarital relationship with Destiny Robinson, and didn’t stem from greed.

'Mr. Hixon’s actions were a misguided expression of love and support for his younger daughter, whom he desperately feared losing', his lawyer, William F. Johnson, argued in a July 18 filing in Manhattan federal court.

Hixon, who’s scheduled to be sentenced by U.S. District Judge Ronnie Abrams August 1, said his ex-girlfriend wouldn’t accept money from him. So Hixon traded in Robinson’s account based on inside information, he claimed.

'Her pride would allow her to accept his investment ideas, but not his checks', Johnson said in the court filing.

Hixon was also charged with using inside information to trade in his father’s account.

To access the complete Bloomberg News article hit the link below:

Ex-Evercore Banker Says Inside Trades for Child Support

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