Chris Collins: early Trump ally charged with insider trading

Congressman Chris Collins Arrested For Insider Trading

Congressman Chris Collins Arrested For Insider Trading

US prosecutors on Wednesday said Chris Collins, a Republican congressman from Western New York, has been indicted for insider trading in connection with the securities of Australian biotechnology company Innate Immunotherapeutics Ltd.

The Justice Department indictment released Wednesday alleges that while Collins served on the board of the company, he passed inside information to his son after the company's main drug failed a trial.

Multiple GOP lawmakers told The Hill past year that Collins had boasted about making money for other members of Congress by urging them to invest in the company, of which he is the largest stockholder.

"He said that he's made members money", an unnamed GOP lawmaker told the Hill at the time.

Trump admits to misconduct in Trump Tower meeting
At the time , Trump and his White House had falsely claimed that he had only offered his input into the crafting of the statement. In June 2016, Donald Trump Jr., Jared Kushner and campaign chairman Paul Manafort met with Russian lawyer Natalia Veselnitskaya.

Lawyers for Collins said the congressman would be "completely vindicated".

Since his inauguration, Collins has continued to defend Trump.

The U.S. Attorney's Office in Manhattan will speak about the indictment during a news conference scheduled for noon.

Rep. Chris Collins, one of the wealthiest members of Congress, was arrested on charges insider trading on Wednesday.

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The group avoided $768,000 in losses by selling off stock early because of the illicit tip, prosecutors say.

Collins, President TrumpDonald John TrumpFive takeaways from Ohio's too-close-to-call special election Mar-a-Lago insiders provided input on VA policy, personnel decisions: report Trump claims victory as Balderson holds on to slim lead in Ohio MORE's top defender on Capitol Hill, turned himself in to the Federal Bureau of Investigation on Wednesday morning, according to multiple reports.

The House Ethics Committee had been investigating the allegations against Collins since August of 2017.

"One of my father's best friends died of MS, and we have a family friend with multiple sclerosis, so I'm always on the lookout for breakthroughs on treating MS". Long sat on the House Energy and Commerce Committee, which addresses health policy.

Pedro signs one-year contract extension at Chelsea
Chelsea manager Maurizio Sarri has ruled off an exit for Blues' striker after he held talks with him, according to reports . The failed Pickford move means Chelsea believe they have exhausted their options in terms of a replacement for Courtois.

Cameron Collins relayed the information about the failed drug trial to others, including his fiancee and her family, the documents state.

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