Ex-US congressman sentenced to 22 months for insider trading

- Former U.S. Congressman Stephen Buyer was sentenced to 22 months in prison on Tuesday for trading on inside information he learned in 2018 as a consultant to T-Mobile US Inc ahead of itsMusicians, humour and stories galore help Bruce Guthro's Celebration of Life | SaltWire - Former U.S. Congressman Stephen Buyer was sentenced to 22 months in prison on Tuesday for trading on inside information he learned in 2018 as a consultant to T-Mobile US Inc ahead of its $23 billion merger with Sprint.

Prosecutors said at trial that Buyer bought Sprint stock after learning from a T-Mobile executive that the telecommunications companies were in merger talks in 2018 and made illegal trades again the following year. Buyer took the stand at trial and denied trading on inside information. He has said he plans to file an appeal.

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Ex-GOP Congressman Gets 22 Months in Prison for Insider TradingA former Republican congressman from Indiana was ordered to spend 22 months in prison for trading on inside information about mergers he learned about while working as a consultant after leaving office.
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Ex-US congressman sentenced to 22 months for insider tradingU.S. District Judge Richard Berman in New York sentenced Buyer, who was found guilty on four counts of securities fraud at a trial in March. Buyer was a Republican from Indiana in the U.S. House of Representatives between 1993 and 2011 before working as a corporate consultant. Prosecutors said at trial that Buyer bought Sprint stock after learning from a T-Mobile executive that the telecommunications companies were in merger talks in 2018 and made illegal trades again the following year.
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