Ex-Congressman Chris Collins to Be Sentenced in New York for Insider Trading

Chris Collins, a former U.S. Congressman from New York who was an early backer of President Donald Trump, is due to be sentenced on Friday after pleading guilty to taking part in an insider trading scheme.

Collins, 69, pleaded guilty to charges of conspiracy and making false statements in October in federal court in Manhattan, a day after resigning his seat in the U.S. House of Representatives.

Although he faces a maximum of five years in prison for each of the two charges, prosecutors have agreed as part of a plea deal that a reasonable sentence would be a total of less than five years.

A few months after he was criminally charged in 2018, Collins had narrowly won re-election to the 27th Congressional District in western New York.

He was convicted for trading on insider information while a board member and a 16.8% stakeholder of Australian biotechnology company Innate Immunotherapeutics Ltd.

After learning from an email sent by the company’s chief executive that an experimental multiple sclerosis drug had failed a clinical trial, Collins relayed the news to his son, allowing him to sell shares before the news became public and eroded their value. His son also passed the tip on to others.

(Reporting by Jonathan Allen; Editing by Daniel Wallis)

Responses

  1. You are already seeing their irrationality in the voting.

    I will never know, but living in an unthinking cult must be like living in a dream.

    1. Voluntarily handing over powers of reason and logic to con men sounds more like a nightmare than a dream. But FOX News has been building this cult for decades.

  2. General, I can’t respond to your reply below, or you won’t be able to see it. But we do need to refresh the IJR posters’ memory of just a few of Trump’s many denials.
    1. No Trump campaign contacts with Russians–Mueller cites 140.
    2. No knowledge of Stormy’s NDA or payment–Cohen produced the cancelled checks signed by Trump.
    3. No Collusion or Obstruction in the Mueller Report. TEN instances of obstruction of justice cited.
    4. Called the reporting “fake news” that McGahn told Mueller of being instructed by Trump to fire the special
    counsel—1 of the 10 instances of obstruction detailed in the Mueller Report.
    5. Denied knowing or meeting with Gordon Sondland–
    6. Denied knowing or meeting with Lev Parnas
    7. Denied Flynn lied to the FBI –Flynn was reportedly fired for telling the SAME lie to Mike Pence.
    8. Denied the quid pro quo–Sondland testified under oath otherwise.
    9. Denied anything in the Whistleblower’s complaint was accurate–That whooper earned “Lie of the Year for 2019.”
    10.Denied responsibility for the “hold” on Ukraine aid, claiming the hold was placed by DOD and State.
    11.Denied U.S. companies and consumers are paying HIS tariffs on Chinese imports.
    12. Denies tis “border wall” is mostly reinforcement of existing border fencing.
    13. Denies Russia interfered, to HIS advantage, in the 2016 election
    14. Denied accepting contributions from foreign sources is illegal.
    15. Denied his hand-picked intel directors’ under oath testimony at the public world threat report–Said it was taken “out of context.”

    1. You are already seeing their irrationality in the voting.

      I will never know, but living in an unthinking cult must be like living in a dream.

  3. If this guy was a dim he would have drawn a pass. Unfortunately as a GOP that seem to attract more scrutiny from the communist news media.

  4. On a side note: Just received an email from the Project Veritas Action Team in which they report that the Iowa Field Director for the Bernie Sanders campaign – Kyle Jurek – was recently bailed out of jail on a drug charge with Bernie Sander’s CAMPAIGN FUNDS. Isn’t that somehow ILLEGAL?

    1. When do you stop falling for Project Veritas conspiracies?

  5. So if he’s going to jail for insider trading how is it that the Hillary Clinton is not going to jail for using a private server with governmental confidential emails while be in the secretary of the state? Was it not her job to know the difference between regular email and a governmental confidential email. If guilty they should all have to follow the law Republican or Democrat.

    1. We are talking about a Clinton here. Didn’t you know they are “above the law?” Comey and his corrupt FBI exonerated her during the interview love fest.

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