Former U.S. congressman Collins sentenced to 26 months for insider trading
By Jonathan Allen NEW YORK (Reuters) - Chris Collins, a former U.S. congressman from New York who was an early backer of President Donald Trump, was sentenced to 26 months in prison and fined $200,000 on Friday after pleading guilty to taking part in an insider trading scheme
By Jonathan Allen
NEW YORK (Reuters) - Chris Collins, a former U.S. congressman from New York who was an early backer of President Donald Trump, was sentenced to 26 months in prison and fined $200,000 on Friday after pleading guilty to taking part in an insider trading scheme.
Collins, 69, pleaded guilty to charges of conspiracy and making false statements in October in federal court in Manhattan, a day after resigning his seat in the U.S. House of Representatives.
Collins was convicted of trading on insider information while a board member and a 16.8% stakeholder of Australian biotechnology company Innate Immunotherapeutics Ltd.
(Reporting by Jonathan Allen; Editing by Daniel Wallis)
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