You might remember Indiana Fourth District Congressman, Steve Buyer of Monticello, from the Frontier Foundation campaign finance scandal. It was a foundation that shared a mailing address with Buyer’s campaign office and employed his daughter but with which he said he had no special connection. Ostensibly a scholarship organization, the foundation took money from the likes of AmGen and didn’t give out much in the way of scholarships. It paid staff and organized fundraising trips at high end golf courses. Buyer retired shortly after that scandal under a cloud.
He’s back in the news with a filing from the Security and Exchange Commission. According to the SEC press release, after Congress, Buyer went to work as a lobbyist. He obtained inside information that T-Mobile planned to acquire Sprint. In 2018, he bought a bunch of Sprint stock and spread it around “his own personal accounts, a joint account with his cousin, and an acquaintance’s account.” When the news became public, he sold and netted $107,000. Similarly, in 2019, he obtained inside information that Navigant Consulting would be acquired by Guidehouse LLP, bought a bunch of Navigant stock and spread it around “his own accounts, joint accounts with his wife and son, his wife’s personal account, and the same acquaintance’s account involved in the Sprint trading.” When the news became public, he sold and netted $227,000.
Again, this is per an SEC press release. I don’t pretend to have any particular knowledge. If true, I guess it beats working for a living.