I guess he wasn’t a member of “The Club”
Posted on 07/25/2022 11:21:25 AM PDT by Red Badger
Former Indiana Republican Rep. Stephen Buyer has been charged with insider trading, the Securities and Exchange Commission announced Monday.
Buyer, who left Congress in 2011, is accused of buying more than $1.5 million worth of stock in Sprint and Navigant Consulting based on on non-public information he received as a consultant after he left office.
Buyer allegedly used seven different accounts to hide the stock purchases. They included accounts he shared with his wife, his son, his cousin, and one that belonged to an unidentified woman who was romantically linked to Buyer.
WASHINGTON -- Former Indiana Republican Rep. Stephen Buyer has been charged with insider trading, using accounts owned by his wife and longtime mistress to hide some of the transactions, the Securities and Exchange Commission announced Monday.
Buyer, who left Congress in 2011, is accused of trading on nonpublic information he received as a consultant after he left office.
According to the civil complaint filed in Manhattan federal court, Buyer bought more than $1.5 million in stock in two separate companies, Sprint and Navigant Consulting, based on insider information over the span of two years.
He sold the shares of Sprint in 2018 after its merger with T-Mobile leaked, for a profit of at least $107,000 according to the SEC. He sold the Navigant shares in 2019 after news became public that Navigant would be acquired by Guidehouse.
An attorney for Buyer, Andrew Goldstein, told CNBC, “Congressman Buyer is innocent. His stock trades were lawful. He looks forward to being quickly vindicated.” Goldstein is a partner at the law firm Cooley LLP.
The SEC complaint details how Buyer used several different accounts, including his wife Joni Buyer’s brokerage account, to purchase the shares. Joni Buyer is not accused of any legal wrongdoing, but she is named in the charges because she technically benefited from the ill-gotten gains in her investment account.
Buyer allegedly spread the stock purchases across seven different accounts, including two separate IRAs belonging to him alone; an investment account belonging to his wife Joni Buyer; a joint account owned by the couple; a joint account Buyer shared with his son; a joint account Buyer shared with his cousin, and a seventh account owned by a woman identified only as “Friend-1.”
According to the SEC complaint, Buyer began a romantic relationship with the unidentified woman in 2006. In 2018, Buyer used the woman’s IRA account to purchase more than $12,000 worth of stock in Sprint. A year later, he allegedly used her account again to buy $22,000 of stock in Navigant, shortly before both companies were acquired by Buyer’s consulting clients.
“When insiders like Buyer – an attorney, a former prosecutor, and a retired Congressman – monetize their access to material, nonpublic information, as alleged in this case, they not only violate the federal securities laws, but also undermine public trust and confidence in the fairness of our markets,” said Gurbir S. Grewal, director of the SEC’s enforcement division, in the SEC press release.
Buyer served in Congress from 1993-2011, where he represented Indiana’s 4th Congressional District, which was previously numbered as its 5th.
Meanwhile Pelosi is still as free as a bird.
But NOT Pelousy or her husband for doing the same thing. Vedddddyyy interesting...
Democrats don’t get investigated
They go back 11 years to nail this guy, yet Hunter Biden and Nancy Pelosi walk free.
I guess he wasn’t a member of “The Club”
But it’s okay for Nancy to get rich on computer chips no problem she’s a corrupt libtard carry on
.
Peter Strzok’s wife was appointed the Head of the SEC enforcement division.
Biden and the Dems can do anything, and they’ll pursue Elon Musk or anyone that threatens their Political Weapons.
Strzok says he’s still investigating Trump, and he’s followed on Twitter by lots of Powerful people in DC and Pentagon.
.
Only sitting or retired Dem congress members can do insider trading.
All of this after he left congress.
But the media just loves the “GOP Congressman” headline
The name is “buyer”—too funny.
I guess he wasn’t a member of “The Club”
Back home, putrid pelosi's constituents happily wallowing in sidewalk cesspools
would overwhelmingly vote the hack back in.
He was stealing when he should have been buying.
Pelosi won’t be touched. This is just another case of unequal justice. Congressmen and everyone in government should be prohibited from trading individual securities. Government should not be a vehicle to enrich.
Always has been since some Pharaoh built the first pyramid.....................
Apparently she wields more power to circumvent ethics and SEC laws.
they better look real close to the pelosi family trading.
Paging Tucker Carlson. Please pick up the Courtsey phone.
Seems the Deep State has claimed another victim for selective prosecution. I know they are trying to start something but just what exactly is the reaction they want?
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