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?

28 comments (hidden to protect delicate sensibilities)
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Comments (28)

  1. Posted by I saw it coming | February 21, 2014 at 2:52 PM

    F-cking genius!

  2. Posted by Guest | February 21, 2014 at 2:53 PM

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

  3. Posted by guest | February 21, 2014 at 2:54 PM

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

  4. Posted by Bud Fox | February 21, 2014 at 2:58 PM

    Wow, same thing happened to me.

  5. Posted by Guest | February 21, 2014 at 3:00 PM

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

    -Ex-LEH bastard child director

  6. Posted by biglawinsecure | February 21, 2014 at 3:17 PM

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

  7. Posted by CF no A though | February 21, 2014 at 3:19 PM

    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. Posted by Modus | February 21, 2014 at 3:27 PM

    Hixon…. doesn't sound Injun or Jewish ?

  9. Posted by Guest | February 21, 2014 at 3:39 PM

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

    Completely inconspicuous.

    -SEC Idiot Radar

  10. Posted by Guest | February 21, 2014 at 4:09 PM

    Tough but fair.

  11. Posted by Calculus | February 21, 2014 at 4:20 PM

    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.

  12. Posted by Guest MD | February 21, 2014 at 4:23 PM

    1.) Buy shares after earnings and press release.
    2.) Sell shares after market retraces.
    3. ) Profit

  13. Posted by Guest | February 21, 2014 at 4:51 PM

    Love child between 2 former presidents… I'll leave you to figure out whom.

  14. Posted by guest | February 21, 2014 at 4:54 PM

    Trading on MNPI in your baby momma's account is the NKI

  15. Posted by Guest | February 21, 2014 at 5:44 PM

    Assuming Stevie is still in the game.

  16. Posted by zoroz | February 21, 2014 at 6:25 PM

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

  17. Posted by Lompoc | February 21, 2014 at 6:48 PM

    It is federal prison. There are no "gang bangers"

    SEC press release estimates 960K.

  18. Posted by Guest | February 21, 2014 at 7:51 PM

    Do you count a suffix as a name?

  19. Posted by Lou | February 22, 2014 at 10:22 AM

    I think it means he USED to hump the woman. He is no longer having sex, but now supports the kid.

  20. Posted by Mackenzie | February 22, 2014 at 7:19 PM

    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.

  21. Posted by Guest | February 24, 2014 at 9:22 AM

    Impregnating a woman named Destiny always ends well.

    – UBS Family Planning Quant

  22. Posted by Perception bias | February 24, 2014 at 9:30 AM

    Right, sure they had no clue.

    They always end up getting caught = 15 % of the time tops.

  23. Posted by Van Tran | February 24, 2014 at 1:13 PM

    This post is really very awesome. I really love this post. The information in this article is really unique and useful for me. After reading this article, I think I have some ideas for myself. I do follow your articles recently. Thanks for sharing this post. Hope to read more interesting information from you. Great job!

  24. Posted by UFO | February 24, 2014 at 1:42 PM

    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

  25. Posted by Overlord of WSO | February 24, 2014 at 1:43 PM

    You said that, not me

    – Patrick

  26. Posted by ShoopTheItIs | February 24, 2014 at 1:44 PM

    Is federal "pound me in the ass" prison the official term?

  27. Posted by UFO | February 24, 2014 at 1:47 PM

    Much fail, so bad

    – UBS doge quant

  28. Posted by Butner IM # 592735 | February 24, 2014 at 2:36 PM

    It's largely white collar and large scale drug crimes.