an hour agoKnown politician Arrested for What Is Charged
Periskopi(8 years ago)
(8 years ago)Federal prosecutors pressed charges Wednesday of illegal stock trade against Republican Congressman Chris Collins, who was arrested to appear later in the day at the federal court in Manhattan. Lawmaker from New York, one of the first members of Congress to back then candidate Donald Trump during the presidential election of the year [...]
The lawmaker from New York, one of the first members of Congress to back then candidate Donald Trump during the 2016 presidential elections, surrendered himself to the Federal Bureau of Investigations Wednesday morning.
The US Prosecutor's Office in the South District of New York accuses Congressman Collins of a scheme she says he has used to illegally inform other people to trade shares of an Australian biotechnology company.
Earlier this year, a report by the Congress Office on Ethics said Collins could have committed a federal crime by revealing to other investors the company's internal information. Investors in question included his son, who has also been charged. Congressman Collins was a board member of the company.
His son, Cameron Collins, is accused of passing the information on to another accused person, Stephen Zarsky, his wife's father.
Prosecutors said that thanks to the information they exchanged, all three involved avoided a loss of nearly $770 thousand.
Mr. Collins' lawyers said in a statement that “would make a powerful defense to clear his good name”.
The Congressman is running for re-election in November and has raised more than $1.3 million for the re-election campaign. VOA.
