Ex-US congressman seeks no prison time at July sentencing for insider trading conviction – ABC News

Buyer’s attorneys told the judge who will sentence their client that Buyer has suffered substantially as a result of the prosecution and conviction.

The case has “irreparably damaged his reputation, tarnished his achievements and lifetime of service, and continue to bring shame and humiliation to him and his family,” the lawyers said.

They said he lost all of his consulting clients after he was indicted and his two businesses “crumbled,” erasing average yearly gross income of about $2.2 million that existed from 2018 to 2021. Now, they produce no income, the lawyers said.

As a result of the conviction, he will lose his Virginia and Indiana bar licenses, and he can never again consult for and advise Fortune 500 companies or any others where he could have access to insider information, they said.

“The cost of litigation has also been substantial, causing Mr. Buyer and his wife to sell most of their assets, including their home, condo, and two cars,” the lawyers said. His wife will have to go back to work at age 65, they added.

Source: Ex-US congressman seeks no prison time at July sentencing for insider trading conviction – ABC News