New York GOP Rep. Chris Collins arrested on insider trading charges [View all]
Last edited Wed Aug 8, 2018, 11:27 AM - Edit history (1)
Source: CNBC
New York GOP Rep. Chris Collins arrested on insider trading charges
Rep. Chris Collins, R-N.Y., has been arrested on insider trading charges lodged by the Justice Department, law enforcement officials said Wednesday morning.
The indictment obtained from a federal grand jury also charges Collins' son, Cameron Collins, as well as the father of his fiancee, Stephen Zarsky.
In June 2017, Collins passed nonpublic information about Innate's drug trial results to his son in order to help him "make timely trades in Innate stock and tip others," the indictment alleges.
Kevin Breuninger Brian Schwartz
Published 1 Hour Ago Updated 3 Mins Ago
Rep. Chris Collins, R-N.Y., has been arrested on insider trading charges lodged by the Justice Department, law enforcement officials said Wednesday morning. ... An indictment obtained from a federal grand jury also charges Collins' son, Cameron Collins, as well as the father of his fiancee, Stephen Zarsky.
The indictment relates to Australian biotech company Innate Immunotherapeutics, on which Collins served as a board member.
In June 2017, Collins passed nonpublic information about Innate's drug trial results to his son in order to help him "make timely trades in Innate stock and tip others," the indictment alleges.
His son then traded on that inside information and passed it to Zarsky, along with numerous unnamed co-conspirators, "so that they could utilize the information for the same purpose," according to the indictment.
Read more: https://www.cnbc.com/2018/08/08/gop-congressman-chris-collins-to-be-indicted-on-insider-trading-charge.html
Updated, 11:22 a.m. Originally posted at 9:29 a.m.
Was:
New York Republican congressman Chris Collins to be indicted on insider trading charges
Kevin Breuninger @KevinWilliamB
Published 1 Min Ago
Rep. Chris Collins, R-N.Y., will be indicted by the Justice Department on insider trading charges, federal prosecutors announced Wednesday morning.
The indictment relates to "securities of Innate Immunotherapeutics ... an Australian biotechnology company on whose board of directors Christopher Collins served," the DOJ said.
This is developing news. Please check back for updates.
- - - - -
Hat tip, Popehat:
QHatSecretMessages Retweeted
https://twitter.com/Popehat
JUST IN: Rep. Chris Collins, two others charged with insider trading relating to securities of an Australian biotechnology company on whose board of directors Collins served. -@AaronKatersky
Link to tweet
= new reply since forum marked as read