Posted on Jul 25, 2022
An ex-U.S. congressman from Indiana is among 9 people charged in insider trading
785
33
3
14
14
0
https://www.npr.org/2022/07/25/ [login to see] /congressman-insider-trading-charges-indiana-stephen-buyer-mergers
A former U.S. congressman from Indiana, technology company executives, a man training to be an FBI agent, and an investment banker were among nine people charged in four separate and unrelated insider trading schemes revealed on Monday with the unsealing of indictments in New York City.
It was one of the most significant attacks by law enforcement on insider trading in a decade, and a prosecutor and other federal officials pledged fresh enthusiasm for similar prosecutions in the future. They said the cheating resulted in millions of dollars of illegal profits for defendants situated on both coasts and in middle America.
Stephen Buyer was accused in court papers of engaging in insider trading during the $26.5 billion merger of T-Mobile and Sprint, announced in April 2018. An indictment identified him as someone who misappropriated secrets he learned as a consultant to make $350,000 illegally.
A former U.S. congressman from Indiana, technology company executives, a man training to be an FBI agent, and an investment banker were among nine people charged in four separate and unrelated insider trading schemes revealed on Monday with the unsealing of indictments in New York City.
It was one of the most significant attacks by law enforcement on insider trading in a decade, and a prosecutor and other federal officials pledged fresh enthusiasm for similar prosecutions in the future. They said the cheating resulted in millions of dollars of illegal profits for defendants situated on both coasts and in middle America.
Stephen Buyer was accused in court papers of engaging in insider trading during the $26.5 billion merger of T-Mobile and Sprint, announced in April 2018. An indictment identified him as someone who misappropriated secrets he learned as a consultant to make $350,000 illegally.
An ex-U.S. congressman from Indiana is among 9 people charged in insider trading
Posted from npr.org
Congress
Banking
Investing
Posted 2 y ago
Responses: 3
10
10
0
PO1 William "Chip" Nagel
..."Buyer, 63, of Noblesville, Indiana, was arrested Monday in his home state. He served on committees with oversight over the telecommunications industry while a Republican congressman from 1993 through 2011.
He was described as making purchases of Sprint securities in March 2018 just a day after attending a golf outing with a T-Mobile executive who told him about the company's then-nonpublic plan to acquire Sprint, according to a civil case brought against Buyer by the Securities and Exchange Commission in a federal court in Manhattan.
Authorities said he also engaged in illegal trading in 2019 ahead of Navigant Consulting Inc.'s acquisition by consulting and advisory firm Guidehouse. Documents said he leveraged his work as a consultant and lobbyist to make illegal profits."...
..."Buyer, 63, of Noblesville, Indiana, was arrested Monday in his home state. He served on committees with oversight over the telecommunications industry while a Republican congressman from 1993 through 2011.
He was described as making purchases of Sprint securities in March 2018 just a day after attending a golf outing with a T-Mobile executive who told him about the company's then-nonpublic plan to acquire Sprint, according to a civil case brought against Buyer by the Securities and Exchange Commission in a federal court in Manhattan.
Authorities said he also engaged in illegal trading in 2019 ahead of Navigant Consulting Inc.'s acquisition by consulting and advisory firm Guidehouse. Documents said he leveraged his work as a consultant and lobbyist to make illegal profits."...
(10)
(0)
9
9
0
2
2
0
How much does Pilosi earn each year? and what is she worth now, and why? We need to be holding our elected officials to a higher standard, not letting them break our laws using insider trading for personal gain. This is really hideous stuff.
(2)
(0)
Read This Next
Continue with Facebook 
Continue with Google