US President Donald Trump has granted a full and unconditional pardon to former Republican Congressman Stephen Buyer, wiping away a federal conviction that sent the former Indiana lawmaker to prison for insider trading, reported Fox News Digital.
The White House announced that Trump exercised his constitutional authority under Article II, Section 2 of the US Constitution to pardon Buyer. The decision overturns the consequences of a 2023 conviction that resulted in a 22-month prison sentence, financial penalties and forfeiture of profits linked to illegal stock trades.
In a proclamation released by the White House, Trump described Buyer’s public service career as “distinguished and highly productive,” reported Fox News Digital. The administration spoke about his military service as a judge advocate general in the US Army and his nearly two decades in Congress representing Indiana from 1993 to 2011.
The White House also said the pardon received the “complete and total endorsement” of more than 50 current and former lawmakers. Among those backing the pardon were Republican Senators Lindsey Graham and Roger Wicker, former House Speaker John Boehner, former Senator Rick Santorum, former Representatives Louie Gohmert, Dan Burton and Lamar Smith, as well as former Indiana Attorney General Curtis Hill Jr.
The proclamation directed Acting Attorney General Todd Blanche to immediately issue a certificate of pardon for Buyer, reported Fox News Digital.
Why was Stephen Buyer convicted?
Buyer’s legal troubles began years after he left Congress. Federal prosecutors accused him of using confidential information obtained through his consulting work to make profitable stock trades. According to court records, Buyer purchased shares in management consulting company Navigant shortly before Guidehouse, one of his clients, announced plans to acquire the company, reported Fox News Digital.
Prosecutors also accused him of buying Sprint stock after learning confidential details about Sprint’s planned merger with T-Mobile before the deal became public.
A jury found Buyer guilty in 2023 of securities fraud and insider trading. Prosecutors argued that he used nonpublic information for personal financial gain and earned hundreds of thousands of dollars through the trades.
During sentencing, US District Judge Richard Berman rejected Buyer’s defense and imposed a prison term of 22 months. The judge also ordered Buyer to forfeit $354,027 in profits earned from the trades and pay an additional $10,000 fine, reported Fox News Digital.
According to court proceedings, Berman also concluded that Buyer obstructed justice by giving false explanations about the reasons behind the stock transactions.
What did Buyer say
Buyer’s attorneys sought a lighter punishment and urged the court to impose home confinement and community service instead of prison.
His legal team argued that the former congressman had already suffered severe financial consequences because of the case. Lawyers said Buyer once earned as much as $2.2 million annually but had been financially devastated by years of legal battles.
According to defense filings, Buyer and his wife sold their home, condominium and two vehicles to cover expenses related to the case. His attorneys also said his wife returned to work at age 65 because of the financial strain.
Despite those arguments, Judge Berman moved ahead with a prison sentence.
Federal prosecutors also sought an order requiring Buyer to pay approximately $1.4 million to cover legal costs incurred by both sides during the prosecution. However, the judge declined that request.
Trump’s pardon now removes the federal conviction and restores Buyer’s rights under federal law.
The decision adds Buyer to a growing list of individuals who have received presidential clemency from Trump during his second term. Presidential pardons remain one of the broadest powers granted to a US president and can erase the legal consequences of federal criminal convictions.
The White House based its decision on Buyer’s public service record and strong support from dozens of current and former elected officials. Critics of the pardon, however, are likely to point to the jury’s verdict and the court’s findings that Buyer profited from confidential information.