New York — A Former Investment Banker Who Admitted Making Trades Based On Inside Information To Cover Child Support Has Been Sentenced On New York Securities Fraud Charges To 2 1/2 Years In Prison.
Frank Perkins Hixon Jr. was sentenced Friday in federal court in Manhattan.
Authorities say Hixon was a senior executive at the Evercore Group investment banking firm when he used the brokerage accounts of an ex-girlfriend in lieu of formal child support payments.
The government says Hixon generated a $260,000 profit by trading on information he knew because he headed an Evercore team advising on a deal by a liquid storage company to sell assets.
Authorities say he used his father’s brokerage account to generate $710,000 in profits.
Evercore fired Hixon in January after investigating his trades.