New York Congressman Collins Arrested On Insider Trading Charges

Republican Congressman Chris Collins, representing upstate New York and one of Trump's top defenders on Capitol Hill, surrendered to the FBI on Wednesday morning on securities fraud-related charges, NBC News reported.

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 biotech company, on which the elder Collins served on the board.

The U.S. Attorney for the Southern District of New York scheduled a news conference to announce announce the insider trading charges against Collins.

Collins, one of Donald Trump's early supporters in his bid for president, is expected to appear in federal court later Wednesday in Manhattan, NBC reported.

The three-term incumbent represents New York's 27th Congressional District, which includes suburbs of Buffalo and Rochester, and is up for re-election in November. He has raised more than $1.34 million in his campaign war chest, according to the latest Federal Election Commission filing.

At the crux of the Collinses' alleged scheme is the passing along information about a failed drug trial so the family and in-laws could cut their losses (per Aaron Blake).

According to the indictment, Collins allegedly tipped off his son, who dropped 1.4 million of his own shares over next few days, right before bad drug trial news became public.

And the punchilne: while the alleged scheme only saved its co-conspirators $768,000, Collins, meanwhile, reportedly lost $16.7 million.

Comments

techpriest wildbad Wed, 08/08/2018 - 11:18 Permalink

Most Congressmen have *something* on them. So why was it time to bust this guy?

It reminds me of when Kent Sorenson (state senator in Iowa) was taken down over working for someone he also endorsed, and getting paid for it. The Des Moines register then listed several other politicians who did exactly the same thing, but Kent was opposed to the installation of highway cameras and the EPA's use of drones to spy on farmers (fine hunting), and was writing a very educational newsletter on how the legislative system was rigged.

Needless to say, nothing happened to any of the other folks listed, because they played ball and he didn't.

In reply to by wildbad

lock-stick techpriest Wed, 08/08/2018 - 11:19 Permalink

It's all ONE SICK, PATHETIC SPAMMER!!!

•• Free This (ABOVE, in all his 7th grade glory - JACKASS  as new icon!)

•• roea.rita ("I SUCK DICK ON THE INTERNET FOR LAND ROVERS!")

•• Adolfsteinbergovitch ("I TORMENT THE WOMAN WHO SUCKS DICK!")

•• 07564111 ("I PRETEND I DON'T KNOW ANY OF THEM!")

•• MoreSun (whacked, OH SO WHACKED!!)

 

....and all the while, the pathetic little SPAMMER sits in his leaky, moldy, smelly single wide in Western New York, surrounded by garbage and dirty clothes, trying to find his dick amidst rolls of fat, talking to his ACTION FIGURES and wondering where his life went.

 

It's all ONE SICK, PATHETIC LIDDLE SPAMMER!!!

In reply to by techpriest

Buckaroo Banzai Freeze These Wed, 08/08/2018 - 11:45 Permalink

"And the punchilne: while the alleged scheme only saved its co-conspirators $768,000, Collins, meanwhile, reportedly lost $16.7 million."

lolwut?? He's guilty all right-- guilty of being the world's worst inside-trader.

Insider trading: THIS IS NOT HOW IT WORKS

But hey-- nothing to see here, move along!

 

EDIT: Now that I think about it, I thought Congress was exempt from insider trading laws. When did this change?

In reply to by Freeze These

MK ULTRA Alpha Buckaroo Banzai Wed, 08/08/2018 - 13:30 Permalink

That was the Senate, they made the rule because of the outing of Feinstein.

Then after public focus ended, the Senate over turned the rule.

Feinstein was outed for working in a network inside the government and outside the government. She had to resign the sub committee.

It was first the left that wanted her head, then the right woke up. Both joined forces because of how much was stolen during the Iraq war.

An investigative reporter uncovered it and then Judicial Watch went after Feinstein.

In 2007 she resigned the sub committee because she was working in a network inside the government to funnel military contracts to her billionaire husband Blum and his cabal of Jewish billionaires.

Any one except the brainwashed Zionist Christians, the Israel lobby and their neocon dogs(mind controlled slaves) will not examine the data which is still out there.

Why didn't the FBI investigate the largest fraud in US history? Who was FBI director? Mueller.

The FBI is always politically biased and everyone knows it. It has been the same since I was a child. The FBI must be abolished for our freedom. They have murdered countless Americans for political reasons. A close examination of the history of the FBI will show the FBI is an organized criminal mafia.

There are 17 intelligence agency, all of them have been directed at the American people through Zionist controlled congress destroying our constitution and bill of rights in the dead of night in the NDAA. The NDAA is the new constitution and bill of rights. 9/11 over turned the constitution and bill of rights.

This nation must streamline the 17 intelligence agencies. It's destructive to our nation to have so many rogue agencies with zero accountability.

Everyone knows and it's feeding the planned civil war. Most of these FBI are full of themselves breaking the law, constitution and bill of rights each and every microsecond of the day.

This is just another attempt by rogue criminals of the FBI to kill Trump. There is tremendous insider trading in the Senate and not one word from the FBI?

Espionage? Clinton, Awan etc. then what is the FBI worth? political manipulation behind the scenes.

All of the governments agency form of government breaks the law each and every second not of the work day, but every second of the day 24/7.

The NDAA has abolished the constitution and the bill of rights. We are no longer a nation of laws, but a nation of rogue government workers. This is the driver of corruption.

We're headed into a bloody civil war, sick FBI agents are brainwashed television minds, I can assure you the MSM depiction of the FBI is a false reality.

In reply to by Buckaroo Banzai

Endgame Napoleon techpriest Wed, 08/08/2018 - 11:39 Permalink

That is just corruption, pure and simple, with no regard for 1) the integrity of representative government and 2) individual liberty. That way, the citizens’ interest in avoiding the surveillance state is unrepresented in their elected government, and the means to do it is by trappling the whole concept of individual rights for the sake of crony groups. Guess there was a lot of money to be made for connected-up, powerful people in the so-called republic by installing those cameras and drones.

Here is the way to spin it: Say the republic, created by the Founders who warned we could not keep it, was brought down for the good of babies and families. This is the best smokescreen. The vast majority of critters in the corporate-government-industrial complex do it all for their babies and grand babies, and when that is the reason, anything and everything is overlooked, whether it is a “voted-best-for-moms” workplace or big government. [Insert cute baby pic]...cute-baby emoji!!...family emoji...!!!

In reply to by techpriest

lock-stick Adolfsteinbergovitch Wed, 08/08/2018 - 13:28 Permalink

It's all ONE SICK, PATHETIC SPAMMER!!!

•• roea.rita ("I SUCK DICK ON THE INTERNET FOR LAND ROVERS!")

•• Adolfsteinbergovitch ("I TORMENT THE WOMAN WHO SUCKS DICK!")

•• lisa.roy39  ("I SUCK DICK ON THE INTERNET FOR LAND ROVERS!")

•• Leakanthrophy (PORN for Jesus!)

•• Cryptopithicus Homme (bitcoin spammer - imaginary "friend")

•• Free This (ABOVE, in all his 7th grade glory - JACKASS  as new icon!)

•• 07564111 ("I PRETEND I DON'T KNOW ANY OF THEM!")

•• MoreSun (whacked, OH SO WHACKED!!)

•• Africoman

•• Sanctificado

•• beemasters

•• PrivetHedge

•• Cheolli

•• bobcatz

dozens and dozens and dozens of banned log-on's -- more than seven years!

 

....and all the while, the pathetic little SPAMMER sits in his leaky, moldy, smelly single wide in Western New York, surrounded by garbage and dirty clothes, trying to find his dick amidst rolls of fat, talking to his ACTION FIGURES and wondering where his life went.

 

It's all ONE SICK, PATHETIC LIDDLE SPAMMER!!!

In reply to by Adolfsteinbergovitch

techpriest tmosley Wed, 08/08/2018 - 14:27 Permalink

Also, after a campaign is over, with certain PACs there is no obligation to do anything with the money, and you can (for some PACs) pocket the money, and I believe for the Super PACs the money must stay in the PAC, *but* you can spend the money on nearly anything, any time, as long as you record what you spent the money on.

So, a "strategic retreat" to Vegas can be done tax-free with campaign contributions. When all of your significant luxury expenses are covered, and your retirement and health care are also covered (Congressmen get great packages for both), it is easy to become rich on even a modest salary.

I haven't been in politics a while so I forget the exact rules and nomenclature, but I do remember that a citizen-started 501(c)4 must follow a number of rules very closely, lest the IRS come after you, but certain PACs are practically designed to be graft machines, and only accessible to someone who can put up a couple million for specialty lawyers. The only positive to said PACs is that the expenses normally must be made public, and groups like the Sunshine Foundation do monitor money going into and out of PACs. However, nobody cares.

In reply to by tmosley

Endgame Napoleon Giant Meteor Wed, 08/08/2018 - 11:50 Permalink

That’s all that is needed in most American jobs, too. Don’t worry about meeting the quotas every month, working your can off in a sea of absentee and above-firing crony parents. Don’t worry about bumping the manager’s numbers up before you are churned. The important thing isn’t serving the customers to keep those numbers high. The point is to avoid annoying the wrong absentee-cornflake-in-charge.

In a nutshell.

In reply to by Giant Meteor