Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Former long-serving House Republican sentenced to 22 months in prison for insider trading

by September 20, 2023
September 20, 2023
Former long-serving House Republican sentenced to 22 months in prison for insider trading

A former Republican lawmaker was sentenced to 22 months in prison for insider trading on Tuesday.

Stephen Buyer, 64, who served as a U.S. representative from Indiana from 1993 to 2011, was convicted earlier this year for operating off insider information after leaving office. In addition to incarceration, Buyer was ordered to forfeit the $354,027 he had gained with the trades in addition to a $10,000 fine.

Buyer’s conviction arose from his purchase of stocks in Navigant, a management company that one of Buyer’s clients, Guidehouse, was set to purchase weeks later. He also purchased shares of Sprint after learning of the company’s non-public plans to merge with T-Mobile.

‘Stephen Buyer was convicted by a jury of twice engaging in insider trading.  He abused positions of trust for illicit personal gain, and today he faced justice for those acts.  No insider trader is above the law, and we will continue to bring those who undermine the fairness and integrity of our markets to justice,’ U.S. Attorney Damian Williams said in a statement Tuesday.

Buyer, 64, is scheduled to report to prison on Nov. 28.

U.S. District Judge Richard Berman also accused Buyer of obstruction of justice for providing false explanations for his trades to the court.

Buyer, a lawyer and Persian Gulf War veteran once chaired the House Veterans’ Affairs committee and was a House prosecutor at President Bill Clinton’s 1998 impeachment trial.

Buyer’s lawyers had urged Berman to limit his sentence to home confinement and community service.

Prior to sentencing, the defense told the court that Buyer, who once made as much as $2.2 million in a year, has suffered so much from the cost of litigation that he and his wife have sold most of their assets, including their home, condo and two cars, and his wife will have to return to the workforce at age 65.

Prosecutors had previously pushed for Buyer to pay an additional $1.4 million to cover the cost of legal fees for both sides, but the judge ruled against it.

The Associated Press contributed to this report.

Anders Hagstrom is a reporter with Fox News Digital covering national politics and major breaking news events. Send tips to Anders.Hagstrom@Fox.com, or on Twitter: @Hagstrom_Anders.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Fox News Power Rankings: The 2024 GOP presidential frontrunner, challengers and second place candidates
next post
Hawley’s Interest Rate Cap Is a Loser

You may also like

GOP lawmakers slam potential Trump indictment: ‘Third World...

March 19, 2023

Breaking: FEDERAL JUDGE TO DOJ: Former White House...

November 30, 2022

Senate GOP eyes Medicaid sweetener to save Trump’s...

June 26, 2025

Johnson to face Republican critics of short-term funding...

January 17, 2024

Harris slammed as ‘CopyCatKamala’ for following Trump’s lead...

August 11, 2024

‘Failure’s not an option’: Trump budget bill will...

May 17, 2025

Former US Senator James Abourezk dead at 92

February 25, 2023

Chaos breaks out after anti-war protestors booted from...

March 1, 2023

‘Squad’ members, GOP lawmaker join forces to reject...

June 18, 2025

Biden-Harris admin treatment of Ukraine, Israel wars ‘differs...

November 4, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump asks SCOTUS to uphold freeze on billions in USAID payments

      August 27, 2025
    • Three Years of Sounding the Debt Alarm at Cato and on the Debt Dispatch

      August 27, 2025
    • Trump Administration Rightly Attacks EU Tech Regulations but Tariffs and Censorship at Home Harm Americans 

      August 27, 2025
    • White House demands all Gaza hostages return home ‘this week’ amid stalled talks

      August 27, 2025
    • Bankruptcy, Hell, and Exit Barriers

      August 27, 2025
    • Trump’s DC Death Penalty Crusade Threatens More Tyranny of the Minority

      August 27, 2025

    Categories

    • Business (8,897)
    • Investing (2,246)
    • Politics (16,501)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved