Key facts
- President Donald Trump granted a pardon to former U.S. Representative Stephen Buyer.
- Buyer was convicted of securities fraud for insider trading in 2018.
- Buyer was sentenced to 22 months in prison.
- The White House cited Buyer's service in the U.S. Army and Congress as rationale.
- The pardon was granted on the advice of 52 current and former members of Congress.
President Donald Trump has pardoned former U.S. Representative Stephen Buyer, an Indiana Republican, who was convicted of securities fraud for engaging in insider trading in 2018. Buyer, who served as a consultant to T-Mobile US Inc ahead of its $23 billion merger with Sprint, was sentenced to 22 months in prison. The White House announced the pardon on Friday, citing Buyer's distinguished service as a U.S. Army judge advocate general and member of Congress. The proclamation also noted that the pardon was granted on the advice and recommendation of 52 current and former members of the U.S. Senate and House of Representatives. Prosecutors stated Buyer made over $100,000 from Sprint trades and over $200,000 from buying stock in Navigant Consulting Inc. before its acquisition. Buyer, who served in the House from 1993 to 2011, denied trading on inside information at his trial. The U.S. Supreme Court refused to hear his appeal in May. Buyer was found guilty in March of 2023 on four counts of securities fraud.