Former U.S. congressman told ‘cover story’ about Sprint trades, prosecutor says

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By Jody Godoy (Reuters) – Former U.S. Congressman Stephen Buyer told jurors an “obvious cover story” to justify trading on information he learned as a consultant to T-Mobile US Inc ahead of its $23 billion merger with Sprint, a prosecutor said as a trial on criminal insider trading charges drew to a close in New York on Thursday. Buyer was a Republican from Indiana in the U.S. House of Representatives between 1993 and 2011 before working as a corporate consultant. During the trial in Manhattan, which began on March 1, Buyer took the stand and denied using client information to buy Sprint stock…

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