Ex-US congressman from Indiana gets bail in stock cheat case
A former U.S. congressman from Indiana, Stephen Buyer, can remain free on $250,000 bail as he awaits trial in a federal insider trading case, a judge said Wednesday.
U.S. District Judge Richard M. Berman in Manhattan also ordered Buyer to stay in the continental United States while four counts of securities fraud are pending against him.
On Monday, authorities unsealed an indictment against him as they accused the Republican who served in Congress from 1993 through 2011 of misappropriating secrets he learned as a consultant to make $350,000 illegally.