Author Topic: Report: Rep. Chris Collins facing federal insider trading charges  (Read 393 times)

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Offline mountaineer

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Report: Rep. Chris Collins facing federal insider trading charges
Washington, D.C. (WHAM) - Western New York Congressional Representative Chris Collins is being charged with insider trading, according to ABC News reports.

Collins (R, NY-27) has been in office since 2013.

13WHAM News will continue to update this story as more information becomes available.

Offline mountaineer

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Re: Report: Rep. Chris Collins facing federal insider trading charges
« Reply #1 on: August 08, 2018, 09:40:52 AM »
More details:
Quote
New York Rep. Chris Collins indicted on insider trading charges
The case is related to Innate Immunotherapeutics, an Australian biotech company, on which the elder Collins served on the board.
by Erik Ortiz and Jonathan Dienst / Aug.08.2018 / 9:33 AM ET


Chris Collins, a Republican congressman from upstate New York, surrendered to the FBI on Wednesday morning on securities fraud-related charges, prosecutors said.

Collins, 68, faces insider trading charges along with his son, Cameron Collins, and Stephen Zarsky, the father of Cameron Collins' fiancée, according to the U.S. Attorney's Office in the Southern District of New York.

The case is related to Innate Immunotherapeutics, an Australian biotech company, on which the elder Collins served on the board. ...
More at NBC News

Offline mountaineer

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Re: Report: Rep. Chris Collins facing federal insider trading charges
« Reply #2 on: August 08, 2018, 09:42:50 AM »
A 2017 article from Washington Examiner about Collins' tie$ to the drug industry.

Offline jmyrlefuller

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Re: Report: Rep. Chris Collins facing federal insider trading charges
« Reply #3 on: August 10, 2018, 07:29:32 AM »
As someone who's lived in that general vicinity (I'm in the neighboring district) and sees a lot about him on the news:

Collins was an excellent county executive. He did a good job of getting Erie County back in good fiscal shape, and in a fiscally sound and conservative way. "Six Sigma" worked.

I have not been as impressed with him as a Congressman.

Offline jmyrlefuller

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Re: Report: Rep. Chris Collins facing federal insider trading charges
« Reply #4 on: August 10, 2018, 07:32:11 AM »
On a somewhat separate issue, though, "insider trading" is such an insidious crime: basically, the law says, if you hear about something bad before it comes public, you and anyone connected to you either are forced to hold onto your stocks and lose your shirt or face criminal charges. It's a "damned if you do, damned if you don't" scenario that forces you to act against your own instincts of self-preservation. Maybe it's not the best way to go about handing things.
« Last Edit: August 10, 2018, 07:32:47 AM by jmyrlefuller »


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