Trump Pardons Ex-Congressman Steve Buyer for Insider Trading
President Donald Trump has granted a full, complete, and unconditional pardon to Stephen E. “Steve” Buyer, a former Republican congressman from Indiana who served nearly two years in prison for insider trading. The pardon, dated June 4 and released by the White House on June 5, comes just weeks after the Supreme Court rejected Buyer’s final appeal.
The Pardon
In the official proclamation, Trump cited Buyer’s “distinguished and highly productive” career as a Judge Advocate General in the U.S. Army and as a member of the House of Representatives. The pardon was endorsed by more than 50 current and former Republican lawmakers, including Senators Lindsey Graham and Roger Wicker, former House Speaker John Boehner, and five current House Republicans who signed a letter supporting clemency.
According to AP News, Trump used his Truth Social platform on May 31 to share letters requesting the pardon, including one from over 40 former Republican members of Congress who argued Buyer was “targeted by the deep state” because of his role as a House prosecutor in President Bill Clinton’s 1998 impeachment trial.
“Like you, Mr. President, Steve has been the victim of lawfare conducted by the Biden Administration,” the April 2025 letter stated, according to the White House proclamation.
Buyer’s Response
Buyer, 67, issued a statement after the pardon declaring that it “corrects a politically motivated prosecution.” He maintained his innocence, calling himself “in effect, a political prisoner” and describing his imprisonment as “horrific.”
“I have maintained my innocence and was wrongfully convicted in New York before an all-Democrat jury,” Buyer said, as reported by the Indianapolis Star.
The Conviction
Buyer was found guilty by a federal jury on March 10, 2023, on four counts of securities fraud. He was sentenced to 22 months in prison, three years of supervised release, and ordered to forfeit $354,027 and pay a $10,000 fine. He was released in 2025 after serving approximately 22 months.
The conviction stemmed from two separate insider trading schemes. In March 2018, Buyer learned of T-Mobile’s nonpublic plan to acquire Sprint from a T-Mobile executive during a golf outing and purchased $568,000 in Sprint stock the next day. In 2019, he purchased Navigant Consulting stock after an employee of Guidehouse informed him of the impending acquisition. The illegal profits totaled more than $350,000.
The Second Circuit Court of Appeals upheld the conviction in March 2025, and the U.S. Supreme Court rejected Buyer’s appeal in May 2026 without comment.
A Pattern of Clemency
The pardon is part of a broader pattern of Trump issuing clemency to political allies and individuals convicted of white-collar crimes. According to NBC News reporting cited by the Indianapolis Star, more than half of Trump’s pardons in the first year of his second term were for people convicted of financial crimes, often fellow politicians or businessmen.
Buyer served on Trump’s 2016 presidential transition team focusing on veterans’ issues, and his military service — including active duty in the Army JAG Corps and service as a captain during the Gulf War — was a key justification cited in the pardon.
Background and Controversies
Buyer served nine terms in Congress from 1993 to 2011, chairing the House Veterans’ Affairs Committee from 2005 to 2007. He gained national attention as one of the House managers who prosecuted President Bill Clinton’s impeachment trial in 1999. After leaving Congress, he worked as a lobbyist and consultant.
His career was not without controversy. The Guardian noted that the pardon comes as Trump faces criticism over his own stock trades, with Democrats accusing him of personally benefiting from his official acts. A nonprofit Buyer founded raised over $880,000 from corporate donors but never awarded a scholarship before being dissolved in 2018.
Legal and Political Implications
The Constitution grants the president broad pardon power for federal crimes. Pardons do not erase a criminal record but can be seen as an act of mercy or correction of injustice. The pardon effectively ends all federal consequences of Buyer’s conviction, though questions remain about whether he will face any professional consequences such as disbarment.
Critics argue the pardon undermines the rule of law and sends a message that political connections can override criminal accountability. Supporters, including the 52 endorsers listed in the proclamation, maintain that Buyer was unfairly targeted by a politicized justice system.
What’s Next
The pardon reinforces Trump’s willingness to use clemency powers for political allies and may encourage other convicted individuals to seek presidential clemency. As the administration continues to exercise its pardon authority, the debate over the scope and propriety of presidential clemency — particularly for white-collar crimes — is likely to intensify.