Trump pardons former US Congress member accused of insider trading
Summary
President Donald Trump pardoned Stephen Buyer, a former Republican congressman who served nearly two years in prison for insider trading after leaving office. The pardon was announced by the White House and cited Buyer’s military and political service.Key Facts
- Stephen Buyer is a former Republican congressman from Indiana.
- Buyer was sentenced to 22 months in prison in 2023 for illegal stock trades using inside information.
- The illegal trades involved the $26.5 billion merger of T-Mobile and Sprint and a consulting company acquisition.
- Buyer was ordered to forfeit over $350,000 in illegal gains and pay a $10,000 fine.
- The Supreme Court rejected Buyer’s appeal of his conviction in May without comment.
- Trump described Buyer’s career as “distinguished and highly productive” when granting a full pardon.
- Buyer denied wrongdoing and said the pardon corrects a politically motivated prosecution.
- Over 40 former and 5 current Republican members of Congress supported Buyer’s pardon in letters to President Trump.
- Buyer served as a House prosecutor in President Bill Clinton’s 1998 impeachment trial and worked on Trump’s transition team in 2016.
- The US Constitution gives the president broad power to grant pardons for federal crimes, which do not erase the criminal record but show mercy or justice.
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