Former GOP Congressman Steve Buyer, who represented Indiana from 1993-2011, arrested on insider trading charges.
Indiana Congressman Steve Buyer talks during the Hoosier Job Fair Monday, July 19, 2010, at Jefferson High School in Lafayette, Ind.According to the complaint, Buyer, who has done consulting work since leaving Congress in 2011, "misappropriated material non-public information that he learned as a consultant and used [it] ... to place timely, profitable securities trades in brokerage accounts in his own name and the names of others.
Indiana Congressman Steve Buyer talks during the Hoosier Job Fair Monday, July 19, 2010, at Jefferson High School in Lafayette, Ind.In total, Buyer's fraudulent trading activity based on nonpublic information in 2018 and 2019 resulted in profits of at least $349,846.61, the complaint said. His arrest was the result of a joint investigation by several federal agencies including the Justice Department and Securities and Exchange Commission.
Williams said the crackdown on insider trading represents a follow-through on his pledge to be "relentless in rooting out crime in our financial markets."
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