Federal prosecutors on Wednesday brought charges of insider trading against the Congressman-Republican Chris Collins, who was arrested later on Wednesday will appear before a Manhattan court.
Congressman from the state of new York, one of the first to support the candidacy of Donald trump for election 2016, on Wednesday surrendered to Federal Bureau of investigation.
The Prosecutor’s office of the southern district of new York filed Collins charges in connection with the insider scheme, which involved him investing in Australian biotech companies.
The charges against Collins ‘ allegations indicate the rule of law in the country, said attorney Jeffrey Berman. According to the Prosecutor, the Congressman who was the major investor, put his family and friends above the public good. Berman stressed that Collins lied to the FBI agents.
Earlier this year the ethics Office of the United States Congress declared that suspects Collins in the Commission of a Federal crime – the disclosure of trade secrets of the company to investors, including his son, who is also indicted. Collins was a member of the Board of governors of the company.
Allegedly, his son Cameron Collins passed information to another alleged participant in the conspiracy, Stephen Tarski, the father of his bride.
According to the prosecution, as a result of receiving this information three men have escaped a loss in the amount of 770 000.
Collins ‘ lawyers say that they intend “to build an active line of defense to restore his good name.”
Collins is participating in the upcoming midterm elections and, according to documents filed with the Election Commission, has spent more than $ 1.3 million on the campaign for re-election.
He served in Congress for three terms, representing a predominantly Republican district, which, according to the scientists, not ready to give place to a Democrat in the November elections.