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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