Tags: former u.s. congressman stephen buyer insider trading charges | sprint | t-mobile deal

Former Indiana Congressman Charged With Insider Trading

Former Indiana Congressman Charged With Insider Trading
Former U.S. Congressman Stephen Buyer, R-Indiana (AP)

Monday, 25 July 2022 10:27 AM EDT

Stephen Buyer, a Republican former U.S. congressman representing Indiana, has been charged with insider trading over purchases of shares in telecommunications company Sprint ahead of its merger with T-Mobile, prosecutors said Monday.

Buyer, who served in Congress between 1993 and 2011, was working as a consultant to T-Mobile ahead of the 2018 merger, according to an indictment filed by federal prosecutors in Manhattan.

Prosecutors said he used non-public information he learned through his consulting work to buy 112,675 shares in Sprint across four different brokerage accounts ahead of the April 29 announcement of the tie-up, earning a profit of around $126,404.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Stephen Buyer, a former U.S. congressman representing Indiana, has been charged with insider trading over purchases of shares in telecommunications company Sprint ahead of its merger with T-Mobile, prosecutors said Monday.
former u.s. congressman stephen buyer insider trading charges, sprint, t-mobile deal
101
2022-27-25
Monday, 25 July 2022 10:27 AM
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