Republican Congressman Accused of Using Confidential Information Arrested

Collins is on the board of an Australian biotechnology company, Innate Immunotherapeutics, which works on a drug for multiple sclerosis. The drug, the only great product of the company, did not pass the clinical tests

Republican Congressman Accused of Using Confidential Information Arrested
Christopher Collins with President Donald Trump

Republican Congressman Accused of Using Confidential Information Arrested: A Republican congressman who supported Donald Trump’s candidacy from the start was arrested and charged today with using confidential information to prevent losses.

The indictment of New York lawmaker Christopher Collins was announced at a news conference by Geoffrey Berman, the District Attorney for the Southern District of New York. They were also accused of Collins’ son, Cameron, and others.

“The conspirators used the information to avoid $ 750,000 in losses,” Berman said.

Collins is on the board of an Australian biotechnology company, Innate Immunotherapeutics, which works on a drug for multiple sclerosis. The drug, the only great product of the company, did not pass the clinical tests.

After receiving that information as a member of the board, Collins shared it with his son, and the two parted with actions and warned family and friends to do the same.

The company’s shares plummeted 92 percent after the information was released several days later.

The case also affects another important official close to Trump, Tom Price, who apparently obtained a special price for the shares as part of his agreements with Collins.

Price, former secretary of Health and Human Services, was not mentioned at the press conference. He reportedly made close to a quarter of a million dollars when he sold his shares in Innate.

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