| For
Insider
Trading Ex-rep
Buyer Guilty
on All 4
Counts After
Took Stand Now
Shakes Head
By Matthew
Russell Lee, Light
Read, Patreon
SDNY COURTHOUSE,
March 10 -- 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 10,
again with
Inner City
Press in the
courtroom as
it was
throughout the
trial, Buyer
was convicted
on all counts.
His sentencing
was set for
July 11.
Afterward, he
shook his head
as if in
disbelief. But
it was a trial
of trades and
timing.
More on
Substack here.
Afterward,
SDNY US
Attorney
Damian
Williams said
in a
statement, "Former
Congressman
Stephen Buyer
leveraged his
privileged
position as a
corporate
advisor to
twice use his
clients’
material
nonpublic
information to
commit insider
trading.
Buyer’s
conviction
underscores
this Office’s
commitment to
detect and
hold
accountable
those who
break our
insider
trading laws
just to make a
buck."
***
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