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In Inside Trading Trial of Ex-rep Buyer Hensel On Schwab after Affair & Levine on NJ Servers

By Matthew Russell Lee, Light Read, Patreon

SDNY COURTHOUSE, March 6 -- 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.

On March 2, T-Mobile executive (and plus 2 hadicap amateur golfer, he pointed out) Anthony Russo was on the stand. On direct examination he said Buyer trading stock would have been inappropriate under T-Mobile's insider trading rules.

With the jury out of the room, Buyer's lawyer asked for a mistrial. Judge Berman asked for briefing, saying he didn't want to prejudge. He pointed out at the indictment does speak of stock sales, and not only purchases. Buyer's lawyer insisted on the dates of crime listed in the indictment. Inner City Press will cover the filings - for now, thread here

On the morning of March 6, the prosecution called witnesses including Matthew Levine of Virtu Financial, who said along with servers in New Jersey they traded through Manhattan offices (for venue), and Karen Hensel, a journalist in Indiana, Boston and now Florida.

  She said after a friendship then intimate relationship with Buyer he opened a Charles Schwab account in her name and traded Sprint and Navigant stock in it, for her.

On cross examination, the fourth of Buyer's five lawyer asked her to confirm that Steve helps his friends. She did.

More on Substack here.


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