U.S. Representative Chris Collins (R, NY) is arrested on charges of securities and wire fraud, conspiracy and lying to investigators. He is accused of passing nonpublic information about Innate Immunotherapeutics, a biotech company, to his son, who traded on the information and passed it along to others. Collins was a director of the company and also a major investor.
Rep. Chris Collins was charged with securities fraud along with his son and another man. Collins is accused of passing inside stock information to his son, who used it to make favorable trades.
- NPR (Image)