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Rep. Chris Collins arrested over insider trading charges


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The 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 "securities of Innate Immunotherapeutics ... an Australian biotechnology company on whose board of directors Christopher Collins served," the DOJ said.

 

The defendants are accused of multiple counts of securities fraud, as well as one count of wire fraud, one count of conspiracy to commit wire fraud and one count each of making false statements.

 

https://www.cnbc.com/2018/08/08/gop-congressman-chris-collins-to-be-indicted-on-insider-trading-charge.html

 

He represents parts of Erie and Niagara County where I live. 

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Funny how this is a topic now.

 

Many here have been apalled at the double standard governing securities holdings by Congressmen and regular people.  

 

PS - What kind of system allows an active Congressman to sit on a corporate board?

Edited by GG
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4 minutes ago, GG said:

Funny how this is a topic now.

 

Many here have been apalled at the double standard governing securities holdings by Congressmen and regular people.  

It's possible that Harry Reid, Dianne Feinstein, John McCain, and Paul Ryan have engaged in these activities too.  It still doesn't make it right.

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1 minute ago, 4merper4mer said:

It's possible that Harry Reid, Dianne Feinstein, John McCain, and Paul Ryan have engaged in these activities too.  It still doesn't make it right.

They, and possibly every member live by different rules that they expect common people to live by.  

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35 minutes ago, 4merper4mer said:

It's possible that Harry Reid, Dianne Feinstein, John McCain, and Paul Ryan have engaged in these activities too.  It still doesn't make it right.

 

Possible....you would think more people would ask how these people have the wealth/lifestyle that they do...on a job that pays 200K a year. 

 

(Before someone points it out, I get that some of them had money before being elected)

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13 minutes ago, Kevbeau said:

 

Possible....you would think more people would ask how these people have the wealth/lifestyle that they do...on a job that pays 200K a year. 

 

(Before someone points it out, I get that some of them had money before being elected)

Cough....Maxine Waters....cough

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26 minutes ago, westside said:

Cough....Maxine Waters....cough

 

Didn't Nancy Pelosi somehow magically become a millionaire through her husband getting massive contracts, after she entered Congress?

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6 minutes ago, Koko78 said:

 

Didn't Nancy Pelosi somehow magically become a millionaire through her husband getting massive contracts, after she entered Congress?

 

She was one of the ones that came to my mind as having money prior to office...but I'm not entirely positive. 

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12 minutes ago, Koko78 said:

 

Didn't Nancy Pelosi somehow magically become a millionaire through her husband getting massive contracts, after she entered Congress?

 

I remember a 60 Minutes piece on all the insider trading done in Congress.  I believe it is from 2011.  Both sides of the aisle do this crap.  Of course we are 7 years later and not a damn thing has changed.

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5 minutes ago, Hirly5 said:

 

I remember a 60 Minutes piece on all the insider trading done in Congress.  I believe it is from 2011.  Both sides of the aisle do this crap.  Of course we are 7 years later and not a damn thing has changed.

 

Remember the Golden Rule: He who has the gold makes the rules.

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This guy is toast... and an a-hole to boot. He was on the Board of Directors and set off about a million dollar savings in trading on insider information about a major failed drug study.

Shades of I. M. Clone and Martha Stewart.:wallbash:

I have to believe that "most" of the "regular" good-ol-boy Insider Trading that the rest of our politicians do is by whispers from friends and not because they themselves are sitting on a BOD. 

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