Following a search on its European headquarters this week by German police and authorities as part of an insider trading investigation, investment firm Perella Weinberg terminated a London-based banker, according to persons familiar with the situation.
According to a statement released on Thursday, German law enforcement suspects that the Perella Weinberg employee gave confidential information about impending merger and acquisition negotiations to four German individuals who then sold the information. The insider trading, which carries a maximum five-year prison sentence, is said to have taken place between 2017 and 2021. The trades, according to the prosecution, might have brought in double-digit million-euro profits.
A German national, 47, who has been charged with using insider knowledge to make trades, was detained by police after being apprehended in Munich earlier this month. Three other people,
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