June 6 (UPI) — President Donald Trump pardoned former U.S. Rep. Stephen Buyer, R-Ind., who was convicted on four counts of securities fraud in 2023 after he left Congress.
Buyer had been convicted and sentenced to 22 months in prison after he was charged with trading stock based on two mergers he knew about based on work at his consulting firm, ABC News and The New York Times reported.
The two mergers he based trades on were T-Mobile’s deal to acquire Sprint and the professional services firm Guidehouse’s deal to buy its competitor Navigant.
In a proclamation released Thursday by the White House, President Donald Trump included a list of current and former members of members of Congress, including Sens. Roger Wicker and Lindsey Graham and Reps. Pet Sessions and Jack Bergman, among several others.
“Mr. Buyer’s career serving as a judge advocate general in the United States Army and as a member of the U.S. House of Representatives from the State of Indiana was distinguished and highly productive,” Trump said.
Buyer was first elected to Congress in 1992, retired from the House in 2010 and then formed his consulting company.
The trades he made based, which were based on executives of the companies he was working for, netted him well over $330,000 in profit when he sold shares of the companies after the mergers were announced.
During his time in Congress, Buyer also was a House prosecutor during the impeaching of former President Bill Clinton in the late 1990s.
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