{"id":1570263,"date":"2022-07-25T16:34:21","date_gmt":"2022-07-25T20:34:21","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570263"},"modified":"2022-07-25T16:36:29","modified_gmt":"2022-07-25T20:36:29","slug":"former-gop-congressman-charged-with-insider-trading","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-gop-congressman-charged-with-insider-trading\/","title":{"rendered":"Former GOP Congressman Charged With Insider Trading"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fformer-gop-congressman-charged-with-insider-trading%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570263&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/SEC-private-companies-scaled-e1641829530365.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Former Republican Congressman Stephen Buyer of Indiana was charged Monday with insider trading by the Securities and Exchange Commission (SEC).<\/p>\n<p>\u201cThe Securities and Exchange Commission today filed insider trading charges against Stephen Buyer, a former U.S. Representative for Indiana\u2019s 4th Congressional District,\u201d an SEC press release <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2022-128?utm_medium=email&#038;utm_source=govdelivery\" target=\"_blank\" rel=\"noopener noreferrer\">read<\/a>.<\/p>\n<p>The SEC <a href=\"https:\/\/dailycaller.com\/2022\/07\/22\/gerson-fuentes-indicted-rape-10-year-old-ohio-girl-indiana-abortion\/\" target=\"_blank\" rel=\"noopener noreferrer\">alleges<\/a> that Buyer, who served in the <a href=\"https:\/\/dailycaller.com\/2022\/07\/19\/house-democrats-arrested-outside-supreme-court\/\">U.S. Congress<\/a> from 1993 to 2011, acquired a total of $568,000 of Sprint common stock after a T-mobile executive revealed to him at a golf outing in March 2018 that the company planned to acquire Sprint. Buyer was allegedly privy to the information before the acquisition was leaked to the public a month later. Buyer profited $107,000 from his use of the inside knowledge, according to the press release. <strong><a href=\"https:\/\/dailycaller.com\/2022\/07\/21\/nancy-pelosi-flees-the-podium-after-being-asked-about-her-husbands-stock-trades\/\">(RELATED:\u00a0Nancy Pelosi Flees The Podium After Being Asked About Her Husband\u2019s Stock Trades)<\/a><\/strong><\/p>\n<p>Buyer also purchased $1 million of Navigant Consulting, Inc. securities before the public announcement that one of Buyer\u2019s own consulting clients was going to acquire the company, the press release reported. Buyer allegedly sold almost all of his shares once the announcement went public, profiting $227,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Today we charged former U.S. Congressman Stephen Buyer with insider trading related with his alleged use of nonpublic information to buy $1.5 million in stocks.<\/p>\n<p>Read more: <a href=\"https:\/\/t.co\/Re0213Zj5y\">https:\/\/t.co\/Re0213Zj5y<\/a><\/p>\n<p>\u2014 U.S. Securities and Exchange Commission (@SECGov) <a href=\"https:\/\/twitter.com\/SECGov\/status\/1551578200832106502?ref_src=twsrc%5Etfw\">July 25, 2022<\/a><\/p>\n<\/blockquote>\n<p>\u201cWhen insiders like Buyer \u2013 an attorney, a former prosecutor, and a retired Congressman \u2013 monetize their access to material, nonpublic information, as alleged in this case, they not only violate the federal securities laws, but also undermine public trust and confidence in the fairness of our markets,\u201d Gurbir S. Grewal, director of the <a href=\"https:\/\/dailycaller.com\/2022\/01\/10\/securities-exchange-commission-private-companies-disclosure-requirements\/\">SEC<\/a> Enforcement Division, said in the press release.<\/p>\n<p>\u201cWe are committed to doing all we can to maintain and enhance public trust by leveling the playing field and holding Buyer accountable for illegally profiting from his access,\u201d Grewal added, according to the press release.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;We are committed to doing all we can to maintain and enhance public trust&#8217;<\/p>\n","protected":false},"author":644,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1570263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/644"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1570263"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570263\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1570263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1570263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1570263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}