Former President Trump issued a pardon on June 15 for ex‑Indiana congressman Stephen Buyer, convicted of insider trading in 2023. The move joins a string of pardons granted to affluent donors who allegedly spent millions supporting Trump’s campaigns or attending Mar‑a‑Lago events. Critics argue the clemency program signals that political contributions can buy immunity to the public.

State attorneys general can bypass the federal shield because state prosecutions are not nullified by presidential pardons. Arkansas Attorney General Tim Griffin used that loophole in 2024, forcing pardoned tax felon Joseph Schwartz to serve additional time and pay $1 million in restitution. Similar tactics could target Nikola founder Trevor Milton, whose 2025 pardon left him vulnerable to Arizona fraud charges in federal court.

Lawmakers in New York enacted a 2019 statute that carves out a double‑jeopardy exception for pardoned offenders, and a coalition of 33 states recently demonstrated collective power in a Live Nation antitrust win after the federal government withdrew. If more jurisdictions adopt comparable measures, they could create a de‑facto safety net that deters future abuse of the pardon power for corporate executives.