Trump’s "man on the Hill" arrested by Federal Bureau of Investigation on securities fraud charges

Rep. Chris Collins R-NY. speaks in Cleveland

The U.S. Justice Department has announced insider trading charges against Rep. Chris Collins (R-Clarence), his son Cameron Collins and Stephen Zarsky, the father of Cameron Collins's fiancée.

Rep. Chris Collins (R-N.Y.) has been arrested by the Federal Bureau of Investigation for insider trading related to an Australian biotechnology company. Cameron Collins then allegedly traded on that inside information and passed it to Zarsky "so that they could utilize the information for the same goal", according to the indictment. Chris Collins was arrested and indicted on charges related to securities fraud Wednesday.

The Office of Congressional Ethics recommended the House ethics committee dismiss a third charge against Collins regarding a discount he received on a private sale of Innate stock because he was a member of Congress.

Collins found out about the failed drug trial before it became public - getting an email about the results while attending the congressional picnic at the White House a year ago, the indictment alleges.

The report details how Collins met with officials at the National Institutes of Health to discuss the development of a drug made by Innate, a company whose board he served on.

Charging documents said Innate was testing a drug called MIS416, to see if it was an effective treatment for Secondary Progressive Multiple Sclerosis.

Economy adds 157,000 jobs in July
One cloud on the horizon has been the Trump administration's trade fights with China, the European Union , Canada and Mexico. With rising gas prices pushing up inflation, Americans actually saw their inflation-adjusted pay decrease in the past year.

Price said he never received information that could be considered a stock tip and denied any wrongdoing.

Collins was one of President Trump's earliest congressional supporters, becoming the first member of the House to endorse Mr. Trump for president during the 2016 campaign.

"Congressman Collins will have more to say on this issue later today", they added.

The House Ethics Committee had been investigating the allegations against Collins since August of 2017.

Prosecutors say the three avoided over $768,000 in losses by trading ahead of the public announcement of the failed drug trials.

Related news:

Hot News

isis-killer-beheading-video-story-top Couple jailed for selling son to paedophiles on dark web
Aug 08, 2018 - 20:01
The couple were found guilty of rape, sexual assault of children, forced prostitution and distribution of child pornography. Christian L, who violated a child contact order when he lived with the boy, holds previous convictions for paedophilia.

Trump administration announces $22b in fresh tariffs on China
Aug 08, 2018 - 18:25
China's exports soared in July, showing little impact from USA tariffs, as Washington finalises more duties on Chinese imports. The latest charge comes after the US said it would implement another round of tariffs on $16 billion worth of Chinese goods.

isis-killer-beheading-video-story-top Customers attacked with brooms after dispute over botched $5 eyebrow wax
Aug 07, 2018 - 19:41
A nail salon employee was arrested after she was caught on camera repeatedly attacking a customer with a broom. Two women were arrested after a brawl broke out at a nail salon in Brooklyn .

isis-killer-beheading-video-story-top Trump tackles Russian lawyer claims head on
Aug 07, 2018 - 19:26
KEITH: We are back exactly where we were this time a year ago , talking about that Trump Tower meeting. "This was a meeting to get information on an opponent". "I did not know about it".

isis-killer-beheading-video-story-top Palestinian teen dies of wounds from border clash: ministry
Aug 07, 2018 - 17:20
The coalition said Friday that the Swedish-flagged vessel, Freedom, was almost 60 miles (95 kilometers) off the coast. Israel and Egypt imposed the blockade after the Islamic militant Hamas overran the territory in 2007.

isis-killer-beheading-video-story-top Newcastle United Players To 'Strike' Over Bonuses Dispute
Aug 07, 2018 - 17:18
Newcastle United have bolstered their attack with the addition of Japan worldwide Yoshinori Muto. The Spaniard later admitted he had no choice but to "wheel and deal" in the transfer market .

isis-killer-beheading-video-story-top Arab aoalition's airstrike on hospital in Yemen's Hodeidah kills 42
Aug 06, 2018 - 11:19
The war has left almost 10,000 people dead and unleashed what the United Nations describes as the world's worst humanitarian crisis.

isis-killer-beheading-video-story-top Saudi Arabia expels Canadian envoy for urging activist's release
Aug 06, 2018 - 10:42
Saudi Arabia has ordered the Canadian ambassador to leave the ultraconservative kingdom after criticism of its arrests of activists.

isis-killer-beheading-video-story-top Justin Thomas wins in Firestone’s WGC finale
Aug 06, 2018 - 10:18
The World Golf Championships in Akron has a yearly economic impact of more than $21 million according to Firestone's website. Sweetest of all was seeing his grandparents, especially the embrace after he tapped in for par to finish at 15-under 265.

isis-killer-beheading-video-story-top Iran snubs offer of a meeting by Trump
Aug 06, 2018 - 10:14
The Iranian rial has dropped to a new record low amid growing concerns of renewed American sanctions, due to kick in on Monday. Later, Trump's Secretary of State, Mike Pompeo , laid out some preconditions , but the offer remained extended.

isis-killer-beheading-video-story-top Trump says his son sought information on Clinton from Russians in 2016
Aug 06, 2018 - 07:14
Last July, Sekulow had said the president "didn't sign off on anything" in regards to the Trump Tower meeting. He also said the meeting was "totally legal" and he did not know about it.

isis-killer-beheading-video-story-top First 2018 case of West Nile in Fairfax is reported
Aug 05, 2018 - 00:02
DEP West Nile virus program staff have conducted multiple operations to reduce mosquito habitats from tire piles and other areas. Mosquitoes become infected when they feed on infected birds, which circulate the virus in their blood for a few days.

isis-killer-beheading-video-story-top Jurgen Klopp confirms Liverpool quartet will miss Napoli game
Aug 04, 2018 - 22:42
"For all the new players it will be the first time in the stadium and it's very important that you get used to all these things". Whereas Firmino is fain to drop deep and leave space for Mane and Salah, Sturridge spends far longer facing the opposition goal.

isis-killer-beheading-video-story-top Donald Trump insults LeBron James on Twitter
Aug 04, 2018 - 22:26
Lemon , who conducted the interview with James, also weighed in. "Who's the real dummy?", the CNN anchor tweeted Saturday . Trump hadn't tweeted at James since he took office, so Friday's tweet was a predictable sea change on social media.

isis-killer-beheading-video-story-top Parts of Virginia city evacuated over possible dam failure
Aug 04, 2018 - 22:19
Since then, the city has continued to analyze the dam to determine how to move forward. The NWS issued a flash flood watch for the area that lasts until 11 a.m.