Republican Party

Republican New York congressman Collins indicted for insider trading

NEW YORK (Reuters) – U.S. prosecutors on Wednesday said Christopher Collins, a Republican congressman from upstate New York, has been indicted for insider trading related to a drug trial at an Australian biotechnology company on whose board he served.

The indictment also charged Collins’ son Cameron, as well as Stephen Zarsky, the father of Cameron Collins’ fiancee.

Christopher Collins, 68, was an early supporter of Donald Trump’s successful 2016 White House run, and has been seeking a fourth term in Congress. Democrats consider him vulnerable in congressional elections this November as they seek to recapture the House of Representatives.

A spokeswoman for the congressman did not immediately respond to a request for comment. Lawyers for the other defendants could not immediately be identified.

To get more stories like this, subscribe to our newsletter The Daily.

According to the indictment, Christopher Collins has sat on the board of Innate Immunotherapeutics Ltd and held a 16.8 percent stake in the Australian company.

The indictment said the congressman passed non-public tips about Innate’s trial for a drug to treat progressive multiple sclerosis to his son, who then passed the tips to Zarsky.

Collins, Zarsky and six others to whom they passed the tips traded on the information, and avoided more than $768,000 in losses by selling before results of the trial, which ultimately failed, became public, the indictment said.

(Reporting by Jonathan Stempel in New York; Editing by David Gregorio and Howard Goller)

Recent Posts

Biden Confirms That Dark Brandon Is Real At Fundraiser With Clinton And Obama

President Biden confirmed that Dark Brandon is real during a fundraiser with former presidents Bill…

6 hours ago

1/6 Cop Killer Trump Shows Up At Police Officer Wake To Tout “Law And Order”

lice officer to talk about how the killing of police officers must stop, after he…

12 hours ago

James Comer Basically Begs Joe Biden To Revive Impeachment By Testifying

In what should be viewed as a last gasp move to revive his impeachment investigation,…

13 hours ago

Voter Fraud Found As Georgia GOP Vice Chair Illegally Voted 9 Times

A Georgia judge has ruled that vice chair of the state Republican Party voted illegally…

15 hours ago

Senator Warns It’s Critical to Declassify Info on ‘Grave Counterintelligence Threat’ Paul Manafort

After news that former Trump campaign chairman and convicted felon Paul Manafort might rejoin Donald…

19 hours ago

Joe Biden To Raise More Money Tonight Than Trump Raised All Month

President Biden is set to raise more money for his campaign in one night ($25…

20 hours ago