A former Indiana congressman and Persian Gulf War veteran was convicted Friday of insider trading charges after a two-week jury trial.
The verdict against Steve Buyer, a Republican lawyer who served in Congress from 1993 to 2011, was returned after a jury heard evidence about stock purchases he made after he became a consultant and lobbyist.
The jury returned guilty verdicts on four securities fraud charges. Judge Richard M. Berman set sentencing for July 11. His lawyers, though, argued that he was a stock market buff who did research that led to legal profitable trades. They said it was a coincidence that his clients purchased two companies that he had invested in.
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