| In
Inside Trading
Trial of
Ex-Rep Buyer
US Cites
Affair as
Defense Says
SDNY Mind Made
Up
By Matthew
Russell Lee, Patreon
SDNY COURTHOUSE,
March 1 -- On
July 25, 2022
the SDNY
prosecutors
unsealed an
indictment of
ex Rep Stephen
Buyer for
illegal
trading on two
mergers.
On
July 27, Buyer
accompanied by
his wife was
in Courtroom
17B of 500
Pearl Street
to be
arraigned.
Inner City
Press live
tweeted it here.
On
March 1, 2023,
the trial
began with
opening
arguments.
Inner City
Press live
tweeted here:
OK-
now in insider
trading trial
of ex-Rep from
Indiana
Stephen
Buyer.
AUSA
Margaret
Graham: Buyer
inside traded
on T-Mobile
-Sprint, and
Guidehouse
Navigant. When
asked, he
lied.
[At
defense table,
Buyer shakes
his head. At
least one
juror is
watching him]
AUSA:
Buyer set up a
trading
account for a
woman he was
having an
affair with,
trading only
these 2
deals.
Buyer's
lawyer Daniel
Alonso (he
pronounces his
client's name
Boo-yer) -
They have no
facts. There
was no
material non
public info
that traded
hands. Mr
Buyer is about
public service
Buyer's
lawyer got out
in front of
his slides,
now synchs to
say, Buyer
worked on
Veterans
issues. The
prosecutors
had their
minds made up.
Now he's 700
miles away
from home, on
trial. [Buyer
waves, as his
lawyer
mis-says he
represented
Alabama]
Buyer's
lawyer: Tony
Russo told the
FBI he
couldn't
confirm
telling Steve
about the
[#TMobile]
merger. He
signed the non
disclosure on
April 18,
after he
stopped
trading.
Then the
government's
first witness,
who's known
Buyer since
1992. Buyer
again
waved....
Inner City
Press will
continue to
cover the
trial.
More with analysis on Substack here
***
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