Former congressman charged with insider trading

The Securities and Exchange Commission (SEC) on Monday charged former Rep. Stephen Buyer (R-Ind.) with insider trading,

The SEC filed the insider trading charge in a Manhattan federal district court,

accusing Buyer of making illegal stock purchases in at least two instances, according to an agency press release.

The SEC is seeking to force Buyer to disgorge profits he made from the alleged schemes.

The charges were brought as part of an investigation into Buyer and nine other defendants,

who were also charged on Monday with insider trading schemes.

The U.S. Attorney’s Office for the Southern District of New York on Monday filed criminal charges in a parallel case against nine defendants, including Buyer.