A federal jury found Buyer guilty of four counts of securities fraud on an insider trading theory — two counts for his trades in Navigant and two for his trades in Sprint.
NEW YORK — On Friday, the U.S. District Court for the Southern District of New York convicted former Indiana Rep. Stephen Buyer on insider trading charges.based on allegations that Buyer had used insider information to purchase stock in Navigant Consulting and Sprint Corp. before their acquisitions by Guidehouse and T-Mobile.
In August 2018, Buyer then sold his shares in Sprint profiting a total of $126,000, according to court documents. In June 2019, Buyer learned about the potential acquisition of Navigant from a sales director at Guidehouse. After learning about this information, Buyer logged into his brokerage account after midnight and looked up the stock, according to court documents.
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