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Perella Weinberg: Banker suspected of being an insider commits suicide


A banker from the investment firm Perella Weinberg, who was suspected of insider trading, has apparently taken his own life. The company confirmed the death of the employee.

An investment banker from the American banking boutique Perella Weinberg Partners who was suspected of insider trading has apparently taken his own life.

Two people familiar with the situation confirmed the suicide on Tuesday, which was first reported by the Bloomberg news agency.

Perella Weinberg confirmed the employee's death without commenting on the cause of death: "We are deeply shocked and infinitely saddened by the tragic loss of our colleague and express our deepest condolences to the family, relatives and everyone who is close to him". , explained a spokesman.

"We are doing everything we can to provide our colleagues with the best possible support during this difficult time."

The investment boutique Perella Weinberg is at the center of a scandal surrounding alleged insider trading, as manager magazin reported last week.

Several buildings in several countries had previously been searched under the leadership of the Frankfurt public prosecutor's office.

The investigations are directed against a total of five suspects, including an investment banker from Perella Weinberg's London office, which was also searched.

The company had already put the employee on leave before the reports.

A Perella spokesman said the investment bank was supporting the law enforcement investigation.

"The company is not the subject of the investigation."

The small investment boutique had also made a name for itself in Germany in recent years as a consultant for numerous large company takeovers.

The accused are said to have earned an amount in the double-digit millions from 2017 to 2021 with the help of insider knowledge about upcoming takeovers.

The German financial regulator BaFin had put the Frankfurt public prosecutor on the track.

A 47-year-old was arrested, the oldest suspect was 82 years old, the authorities had said.

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Source: spiegel

All news articles on 2023-02-01

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