Weekly Feature

2018-08-09 / Front Page

Collins arrested by feds on insider trading charges

Collins Collins Federal officials arrested Rep. Chris Collins Wednesday morning in New York City on charges related to alleged insider trading.

According to multiple news reports, an Office of Congressional Ethics report from last fall found there was “a substantial reason to believe” that Collins violated federal law by touting the stock of an obscure Australian biotech firm based on inside information, while also possibly breaking House ethics rules by persuading National Institutes of Health officials to meet with a staffer from that company.

Based on that report, the House Ethics Committee said it was continuing its investigation of Collins.

Also arrested

Wednesday were Cameron Collins, the congressman’s son, and Stephen Zarsky, the father of Cameron Collins’ fiancee.

“Throughout my tenure in Congress I have followed all rules and ethical guidelines when it comes to my personal investments,” Collins said in an October statement.

“I was elected to Congress based upon my success in the private sector, and my willingness to use that experience every day to facilitate an environment that creates economic opportunity and jobs.”

Attorneys for the Clarence congressman released the following statement on Wednesday morning:

“We will answer the charges filed against Congressman Collins in court and will mount a vigorous defense to clear his good name. It is notable that even the government does not allege that Congressman Collins traded a single share of Innate Therapeutics stock. We are confident he will be completely vindicated and exonerated.”

Return to top