Trump Pardons Indiana Ex-Congressman Buyer Convicted of Insider Trading

President Trump pardoned Stephen E. Buyer, a former Indiana Republican congressman convicted of insider trading in 2023. Buyer was sentenced to 22 months in prison after being found guilty on four counts of securities fraud for trading stocks based on confidential merger information he obtained through his consulting firm clients. The pardon, dated June 4, was backed by Republican lawmakers including Senators Roger Wicker and Lindsey Graham, and former House Speaker John Boehner.

According to Securities and Exchange Commission complaints, Buyer illegally profited from two separate schemes. In one instance, he purchased $568,000 in Sprint securities after learning of T-Mobile’s planned acquisition from a T-Mobile client, netting over $107,000 when the deal became public. In a second scheme in 2019, he bought more than $1 million in Navigant stock after learning from Guidehouse that it would acquire the competitor, then sold the shares for a profit exceeding $227,000.

Trump’s pardon continues an established pattern of clemency for those convicted of white-collar crimes, spawning what operatives describe as an industry around bringing clemency requests to the president. Since returning to office, Trump has issued dozens of pardons and commutations, many benefiting individuals with financial crimes convictions and apparent political connections.

The pardon drew no public opposition from Republican colleagues despite ongoing congressional debate over insider trading by lawmakers. House Republicans have advanced legislation to restrict stock purchases by members and their relatives, though Democrats have criticized the bill as containing loopholes. Buyer’s legal team did not immediately comment on the pardon.(Source: https://www.nytimes.com/2026/06/06/us/politics/trump-pardon-stephen-buyer-insider-trading.html?smid=fb-nytimes&smtyp=cur&fbclid=IwdGRjcASRIzJleHRuA2FlbQExAHNydGMGYXBwX2lkCjY2Mjg1NjgzNzkAAR7k-0KWpsDCYEqbpSok2K4TENvtKwfnqolA_VhQN3IR4N42xkYRW9Dmwk2I1Q_aem_x777XGvvtyUgM0NB-nADwQ)