A former member of the GOP House is headed to jail for a long time.
Former Rep. Stephen Buyer (R-IN) was just sentenced to 22 years in prison.
Get this… for insider trading.
They’re All Crooks
Buyer left Congress in 2011, but I guess he thought he could use the tricks in learned in Congress in the real world.
He took information he gained from a client to purchase stock in a company they were acquiring.
He made more than $350,000 in the deal, but now he has to give it all back, as well as a $10,000 fine.
This case has literally cost him everything he owned, spending millions defending himself for a verdict that he could have pleaded out from the outset.
U.S. Attorney Damian Williams stated, “Stephen Buyer was convicted by a jury of twice engaging in insider trading.
“He abused positions of trust for illicit personal gain, and today he faced justice for those acts.
“No insider trader is above the law, and we will continue to bring those who undermine the fairness and integrity of our markets to justice.”
And when I said he lost everything, I meant it.
While he is headed to prison, his 65-year-old wife will be filling out an application at McDonald’s to keep the lights on in the house.
Source: NBC News
