Trump Pardons Former Indiana Congressman Convicted of Insider Trading

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Stephen Buyer, a former Republican representative from Indiana, was convicted of insider trading related to two stock deals before they were publicly announced. Buyer, who faced trial in New York City in 2023, was sentenced to 22 months in prison.

President Trump issued a pardon for Buyer on June 4, 2026. This pardon was supported by a group of current and past Republican lawmakers, including Senators Roger Wicker and Lindsey Graham, and former House Speaker John Boehner.

Buyer’s conviction in 2023 was based on charges of trading stock on insider information about two mergers. He obtained this information from clients of his consulting firm, which he established after leaving Congress in 2011.

Since returning to office last year, Trump has granted numerous pardons and commutations, particularly for white-collar crimes. This trend has led to the growth of an industry of operatives advocating for clemency requests.

In the pardon proclamation, Trump highlighted Buyer’s service as a Judge Advocate General in the U.S. Army and his contributions as a representative from Indiana.

The SEC’s complaint stated Buyer learned of T-Mobile’s plan to acquire Sprint from a T-Mobile executive. Buyer subsequently bought $568,000 in Sprint securities, which increased in value by over $107,000 post-announcement. In a separate instance, Buyer profited from acquiring Navigant stock after learning of its planned acquisition by Guidehouse in 2019, making more than $227,000.

Buyer’s attorney, Andrew Goldstein, has previously stated Buyer’s innocence. There was no immediate response from Goldstein on recent inquiries.

Buyer, elected to Congress in 1992, retired in 2010 to care for his wife, Joni Lynn Buyer, who was diagnosed with an autoimmune disease. The SEC sought an order from the court to return profits from trades and to prevent Buyer from holding corporate executive positions.

Congress faces challenges with insider trading among lawmakers, who can access sensitive information. A Republican bill proposes restrictions on stock trading by lawmakers and relatives, though Democrats argue it has weaknesses.

Francesca Regalado reports breaking news for the Times.