The buyer was convicted of insider trading involving the $26.5 billion merger of T-Mobile and Sprint, announced in April 2018, and illegal transactions in management consulting firm Navigant when its client Guidehouse was set to acquire it in a deal made public a few weeks later. .
Defense lawyers had requested home confinement and community service as punishment, while prosecutors asked for a three-year prison sentence.
Judge Richard M. Berman said a jury’s conviction of Buyer in March was not a close decision because the evidence against him “screams guilty.” The judge said Buyer lied when he testified at his trial about when he learned about mergers from which he profited.
Berman noted that he had previously rejected claims that Buyer was unfairly prosecuted or that he could not get a fair trial in Manhattan because New York’s population favored Democrats. Berman named six suburban counties outside the city where jurors also came from.
The buyer was ordered to report to jail on November 28.
Before being sentenced, Buyer, a native of Noblesville, Ind., told the judge he would have to go to Indiana, where someone who buys a dozen ears of corn for $6 at l The back of an unmanned trailer could put the money into a container that already contains $300. without fearing that someone will grab the money.
“It’s an honor system. This is how we live. That’s how I lived my life,” he said.
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