Friday, 21 September, 2018

Loving GOP Congressman Arrested by Federal Bureau of Investigation on Securities Fraud Charges

Credit WXXI News Credit WXXI News
Pablo Mccormick | 08 August, 2018, 17:39

Also charged is Collins's son, Cameron Collins, and the father of Cameron's fiancee, Stephen Zarsky. A press conference is scheduled for noon on Wednesday.

He allegedly passed private information about the company to his son, Cameron Collins, who used the information to make timely trades and tip off others, according to the indictment.

According to the indictment, the defendants tried to get early word on the results of trial of a drug the company developed to treat multiple sclerosis.

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Collins was on the board of Innate Immunotherapetutics, one of its largest shareholders, and had access to nonpublic information about the company.

Collins, whose district covers parts of western NY between Buffalo and Rochester, has denied any wrongdoing.

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.

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They added: "It is notable that even the government does not allege that Congressman Collins traded a single share of Innate Therapeutics stock".

His son then traded on that inside information and passed it to Zarsky, along with numerous unnamed co-conspirators, "so that they could utilize the information for the same objective", according to the indictment.

Christopher Collins has been indicted on insider trading charges, federal prosecutors announced Wednesday. "We are confident he will be completely vindicated and exonerated", Baker Hostetler attorneys Johnathan Barr and Jonathan New said in the statement.

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