JUST IN: US Republican Arrested On Insider Trading Charges



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There is news just coming in that US Republican Chris Collins has been arrested on insider trading charges and has surrendered to the FBI this morning.

Here is more from NBC:



Chris Collins, a Republican congressman from upstate New York, surrendered to the FBI on Wednesday morning after federal prosecutors alleged he used his position at a biotech firm to help his family make illicit stock trades — and avoid more than $768,000 in losses.

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 pharmaceutical company, on which the elder Collins served on the board. He also is one of the firm’s biggest shareholders, owning nearly 17 percent of the stock, which is traded on the Australian Securities Exchange and in the United States on the over-the-counter market.

According to a grand jury’s indictment, Collins in June 2017 passed along material that was nonpublic regarding the results of a drug trial — meant to treat a form of multiple sclerosis — so his son “could use that information to make timely trades in Innate stock and tip others.”

Of course, the Trump resisters are ignoring that this is an insider trading story but rather are focusing on the fact he backed Trump.



See, what I mean?

They seem to ignore that Collins has been under investigation for some time.

 

At any rate, you just can’t explain that to these people and they will never listen to reason.

H/T [NBC]

 



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