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.
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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)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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