Trump grants presidential pardon to former Rep. Stephen Buyer, convicted of insider trading
In 2023, Buyer was sentenced to 22 months in prison after personally profiting more than $350,000 by using inside information from clients he consulted for.
President Donald Trump awarded a presidential pardon to former Rep. Stephen Buyer (Indiana), charged in 2023 with insider trading for personal financial gain.
"Acting pursuant to the grant of authority in Article II, Section 2, of the Constitution of the United States, ... I, Donald J. Trump, do hereby grant a full, complete, and unconditional pardon to Stephen E. Buyer," the president informed through a statement.
"The Attorney General shall administer and effectuate the immediate issuance of a certificate of pardon to the individual named herein," Trump added.
This presidential pardon received the backing of numerous congressmen, including Senators Roger Wicker (Mississippi) and Lindsey Graham (South Carolina) and Representatives Jack Bergman (Michigan), Ken Calvert (California) and Tom Cole (Oklahoma).
Three years ago, Buyer was sentenced to 22 months in prison for "four counts of securities fraud for engaging in two insider trading schemes," according to reported the Department of Justice (DOJ), then led by Merrick Garland.
Specifically, Buyer starred in two schemes in which he used privileged information from clients for whom he did consulting work, from which he pocketed more than $350,000.
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