Former Congressman Stephen Buyer from Indiana, who was convicted of securities fraud related to insider trading in 2018, has been granted a presidential pardon by Donald Trump. Buyer, a former US representative and Republican politician, served 22 months in prison following his conviction. The White House announced the pardon without providing a specific reason, citing Buyer’s distinguished service as a US Army judge advocate general and a member of Congress. Trump’s decision to grant Buyer a full pardon was based on the advice and recommendation of 52 current and former members of the US Senate and House of Representatives.
This pardon is part of a series of controversial pardons by Trump, including the release of former Honduras President Juan Orlando Hernández and Binance founder Changpeng Zhao. Buyer, who served in Congress from 1993 to 2011, was found guilty of securities fraud for engaging in illegal trades based on insider information about a telecommunications merger. Prosecutors revealed that Buyer made substantial profits from these trades and lied under oath during his trial. Despite seeking a three-year prison sentence, Buyer’s conviction appeal was rejected by the US Supreme Court.