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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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