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GOP congressman busted for insider trading By Kaja Whitehouse August 8, 2018 | 9:54am Upstate NY Congressman Christopher Collins was charged Wednesday with insider trading tied to a company for which he served as a board member. Collins, a Republican who represents the 27th District of New York, covering the suburbs of Buffalo and Rochester, turned himself in to the FBI on Wednesday and is expected to appear in Manhattan federal court later in the day. Also charged were his son Cameron Collins, and Stephen Zarsky, the father of Cameron Collins’ fiancée.

U.S. prosecutors on Wednesday said Christopher Collins, a Republican congressman from New York, has been indicted for insider trading in connection with the securities of Australian biotechnology company Innate Immunotherapeutics Ltd. The indictment also charged Collins’ son, Cameron Collins, as well as Stephen Zarsky, the father of Cameron Collins’ fiancee.

Congressman Chris Collins was indicted by a federal grand jury of conspiracy to commit securities fraud on Wednesday morning. Collins, along with his son Cameron, and Cameron's future father-in-law Stephen Zarsky, were accused of insider trading related to the Australian biotechnology company Innate Immunotherapeutics Limited. The indictment alleged that in June of 2017, Congressman Collins violated the duties he owed to the biotechnology company by passing material, nonpublic information regarding the drug trial results to his son so that Cameron could use that information to make timely trades in Innate stock and tip others. Cameron Collins allegedly traded on that...

Insider trading was a family affair for upstate New York congressman Chris Collins, federal prosecutors charged Wednesday. The Republican lawmaker, one of President Trump’s earliest supporters, was charged along with his son Cameron Collins and the father of Cameron’s fiancée, Stephen Zarsky, in a scheme that allowed them to avoid $768,000 in stock losses, prosecutors say. The trio are accused of securities fraud related to Innate Immunotherapeutics, an Australian biotechnology company. The elder Collins sits on the firm’s board of directors and is one of its largest shareholders. Manhattan federal prosecutors say the upstate New York congressman passed to his...