Executing Insider Trades In An Account Set Up Under Baby Mama’s Name Not The Fool-Proof Plan Ex-Evercore Director Thought It’d Be

From 2010 to 2014, when he was working in Evercore’s mining and metals group, Frank Perkins Hixon Jr. occasionally found himself on the receiving end of material non-public information. Sometimes it was about forthcoming acquisitions. Sometimes it was about his own company’s earnings. In both cases, FPH Jr. knew he could sweeten things for himself by trading on the 411. Naturally, he didn’t want to get fired from Evercore for securities fraud, as it would put a damper on his ability to obtain inside info, so he couldn’t be too obvious. Placing the trades in an account under his own name was obviously out. Same went for anyone with whom he shared a last name, like his mom or dad. And that’s when the lightbulb went off:

Before the acquisition was announced in November 2012, Mr. Hixon bought 40,000 shares of Titanium in his ex-girlfriend’s account, with whom he had a child, according to the complaint, and directed his relative* to purchase 15,000 shares. The shares were sold immediately after the announcement, according to the complaint, turning the $250,000 profit. Neither the ex-girlfriend nor the relative are named in the complaint. In another alleged insider-trading scheme, Mr. Hixon used confidential information about Evercore’s fourth-quarter earnings in 2012 to purchase 42,000 shares of the company in the two accounts, ultimately netting more than $96,000 in profits, the complaint said…

A spokesman for Evercore said in a statement that the company uncovered the links between Mr. Hixon and the account holders last year in response to routine requests by the Financial Industry Regulatory Authority, the self-regulatory body, and subsequently fired Mr. Hixon.

Remember this.

Former Evercore Director Charged With Insider Trading [WSJ]

Related: Guy Who Had Two Ladies Doing His Insider Trading Bidding At The Same Time Was This Close To Nabbing A Third

*Cousin on mom’s side?

(hidden for your protection)
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28 Responses to “Executing Insider Trades In An Account Set Up Under Baby Mama’s Name Not The Fool-Proof Plan Ex-Evercore Director Thought It’d Be”

  1. I saw it coming says:

    F-cking genius!

  2. Guest says:

    baby mama and relative should be charged as well to be fair to former felon martha stewart.

  3. guest says:

    first he knocks her up and doesn't marry her and now this? this guy's an animal!

  4. Bud Fox says:

    Wow, same thing happened to me.

  5. Guest says:

    How the fuck do you have an ex-baby mama? Did the kid die?

    -Ex-LEH bastard child director

  6. biglawinsecure says:

    wall street oasis led be to believe that evercore is super triple elite. He risked it all for 300k?

    • Calculus says:

      SEC has it at about 960 K.

      Presumably got away with it preev, so who knows.

      10 years left in the racket, fig making 400K/yr.

    • UFO says:

      Super DUPER triple elite. Get it right.

      – guy who does not work at preftigious boutiqe, elite boutique, or for that matter, any boutique at all

    • Overlord of WSO says:

      You said that, not me

      – Patrick

  7. CF no A though says:

    FPH Jr: I don't usually get passed around and treated like a human pin cushion by well endowed gang bangers but when I do, I value the transaction being worth $346K.

  8. Modus says:

    Hixon…. doesn't sound Injun or Jewish ?

  9. Guest says:

    Buy shares on non public info, sell immediately after said material made public.

    Completely inconspicuous.

    -SEC Idiot Radar

  10. zoroz says:

    Always with three names! Don't miss the critical tag.

  11. Mackenzie says:

    Every time they think they can get away with it but they always end up getting caught in the end. It's unfortunate that he used his relative and child's mother in this way.

  12. Guest says:

    Impregnating a woman named Destiny always ends well.

    – UBS Family Planning Quant

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