Ex-US congressman from Indiana gets bail in stock cheat case
On July 27, 2022, in New York, former U.S. Rep. Stephen Buyer, left, trails his lawyer William Schwartz as he leaves Manhattan federal court after pleading not guilty to charges that he participated in an insider trading scheme while working as a consultant. Buyer served in Congress from Indiana from 1993 through 2011. (AP Photo/Larry Neumeister)
NEW YORK (AP) — A former U.S. congressman from Indiana can remain free on $250,000 bail as he awaits trial in a federal insider trading case.
Federal Judge Richard M. Berman in Manhattan also ordered Stephen Buyer on Wednesday to stay in the continental United States while charges are pending against him.
On Monday, authorities unsealed an indictment as they accused the Republican congressman who served in Congress from 1993 through 2011 of misappropriating secrets he learned as a consultant to make $350,000 illegally.
The 63-year-old Noblesville, Indiana, man was arrested at home in his home state Monday. But he appeared in Manhattan federal court Wednesday to plead not guilty.
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