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Former Republican U.S. congressman, Stephen Buyer, among 9 people charged with insider trading.
Ex-US congressman Stephen Buyer among 9 charged in insider trading cases
Published: Jul. 25, 2022, 1:48 p.m.
By The Associated Press
NEW YORK (AP) — 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.
[snip]
An indictment identified Stephen Buyer as someone who misappropriated secrets he learned as a consultant to make $350,000 illegally. Buyer served on committees with oversight over the telecommunications industry while a Republican congressman from 1993 through 2011, the indictment said.
