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JUST IN: US Republican Arrested On Insider Trading Charges

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2 min read

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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.

https://twitter.com/aravosis/status/1027185658786447360

https://twitter.com/PalmerReport/status/1027186037343154176

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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About the author

Sassy Liberty is a political writer for the better part of a decade. She has been vocal for years on social media concerning the communist agenda that has infiltrated our country. She is an advocate for medical freedom, homeschooling, and defunding the woke culture. Do you want to stop the war on kids and defund the commie agenda? msha.ke/danielledeperi

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