Former Republican congressman Chris Collins pleads guilty to insider trading. More here:
NEW YORK - Chris Collins, a former U.S. Congressman from New York state who was known as an early backer of President Donald Trump, pleaded guilty on Tuesday to taking part in an insider trading scheme.
Collins had represented New York’s 27th Congressional District, which includes areas surrounding Buffalo and Rochester in western New York. He narrowly won re-election last November, three months after he was criminally charged. Collins admitted that he immediately called his son, Cameron Collins, to tell him the news, allowing him to sell his Innate shares and avoid losses when it became public. Chris Collins said he was in “a very emotional state” when he made the call because he was upset the drug had failed.
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