The Securities and Exchange Commission (SEC) announced on July 25 that it would pursue criminal charges for insider trading against former U.S. Rep. Steve Buyer (R-Ind.).
In a report announcing the charges, the SEC laid out its case against Buyer, alleging that he used his position in Congress to gain nonpublic access from T-Mobile about a then-unannounced merger with Sprint.
“After leaving Congress in 2011, Buyer formed a consulting firm, the Steve Buyer Group, which provided services to, among other clients, T-Mobile,” the report reads. “In March 2018, Buyer attended a golf outing with a T-Mobile executive, from whom he learned about the company’s then-nonpublic plan to acquire Sprint.”…


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