Tuesday, October 20, 2020

Former Rep. Chris Collins pleads guilty to charges of insider trading

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Former GOP Rep. Chris Collins pleaded guilty Tuesday to charges related to insider trading, a day after news broke he was planning to change his plea to guilty.

Collins, 69, pleaded guilty to charges of conspiracy to commit securities fraud and making false statements. The GOP congressman resigned from congress a day before pleading guilty.

Collins, his son Cameron Collins and the father of Cameron Collins’ fiancee initially plead not guilty to charges of insider trading in 2018.
The co-conspirators were accused of trading on non-public information related to Australian medical biotech company, to avoid financial loses. Mr Collins, serve on the

Read More: GOP Rep. Chris Collins resigns ahead of pleading guilty to insider trading charges

Collins was the first GOP congressman to support President Trump in2016. He narrowly won his re-election for the New York congressional seat.

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“I regret my actions beyond anything that I could explain here today,” Collins said in court.

His son Cameron Collins and he father of Cameron Collins’ fiancee Zarsky will have their plea hearing on Thursday.

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