Trump-Loving GOP Congressman Arrested by FBI on Securities Fraud Charges
Rep. Chris Collins (R-NY) was arrested by the FBI on Tuesday morning, according to WNBC.
According to USA TODAY reporter Nathan Bomey, the U.S. Attorney for the Southern District of New York is prosecuting Collins, along with his son Cameron and his son's fiancée's father Stephen Zarsky, on insider trading charges related to the Australian biotechnology firm Innate Immunotherapeutics.
Collins, the first sitting member of the House to endorse Trump's campaign for president, has faced allegations of criminal insider trading ever since he was heard discussing his plans to sell off stock in Innate Immunotherapeutics on the floor of the House in 2017, one day before the company announced the failure of a major clinical trial into a treatment for multiple sclerosis.
As Collins is the largest shareholder in the company and his conversation carried the appearance of trading off non-public information, his actions immediately drew suspicion.
The House Ethics Committee also opened an investigation into Collins for the stock discussion last October.
(Developing Story)
