- In March, a Manhattan court found former congressman Steve Buyer, 64, of Noblesville, Indiana, guilty of insider trading.
- Buyer was found guilty in relation to the T-Mobile and Sprint merger as well as other stock transactions he made later on.
- His attorneys want him to avoid any jail time, even though the federal sentencing guidelines call for him to serve a sentence of about three years.
After being found guilty of insider trading, a former congressman from Indiana should not serve any time behind bars, his attorneys told the judge on Wednesday.
Consider the House conservatives’ proposed budget before building a border wall and cutting trillions from federal expenditure.
After a two-week trial for stock trades he made while working as a consultant and lobbyist after he left office in Congress from 1993 to 2011, Steve Buyer, 64, of Noblesville, Indiana, was found guilty of four counts of securities fraud in Manhattan federal court in March. He served in Congress from 1993 to 2011.
He was found guilty of insider trading in relation to the $26.5 billion T-Mobile and Sprint merger that was announced in April 2018 as well as stock purchases he made later on in the management consulting firm Navigant when his client Guidehouse was about to acquire it in a deal that was made public a few weeks later.
He should spend nearly three years in jail, according to federal sentencing guidelines, though judges routinely deviate from the standards’ recommendations.
Prior to the Republican’s July 11 sentence, his attorneys submitted a memorandum arguing that the Republican should simply get house detention and community service.
The attorney and veteran of the Persian Gulf War once presided over the House Veterans Affairs Committee and participated in the impeachment trial of former President Bill Clinton in 1998 as a House prosecutor.
The prosecution and conviction of Buyer have caused their client significant harm, according to the judge who will punish him.
According to the attorneys, the situation has “irreparably damaged his reputation, tarnished his accomplishments and lifetime of service, and continue to bring shame and humiliation to him and his family.”