REPORT: Former GOP Lawmaker Sentenced to Prison for Insider Trading Case
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Representative Chris Collins had told so many people, from fellow House members to friends and relatives, about a surefire investment: a little-known Australian drug company that was developing a treatment for multiple sclerosis.
But when Mr. Collins learned about a critical drug trial that had failed, he set in motion a chain of events that led to a federal indictment, the end of his career in Congress and, on Friday, a 26-month prison sentence and a $200,000 fine.
The article goes on to state the following:
The judge, Vernon S. Broderick of Federal District Court in Manhattan, said that Mr. Collins had a higher obligation to obey the law, given his position in the House and on the board of the drug company, and that he had committed a crime that in many ways went to the heart of the country’s financial system.
The report states that Collins, 69, who was the first sitting member of Congress to endorse Donald Trump during his 2016 campaign, delivered statement before he was sentenced, sobbing at times, as he apologized to those he had hurt, including his family, his constituents, his former colleagues in Congress, and President Trump.
“What I’ve done has marked me for life. I stand here today as a disgraced former member of Congress that will have that asterisk by my name,” Collins said.
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Former congressman Christopher Collins sentenced for insider trading scheme and lying to federal law enforcement agents https://t.co/1ItodkyJDT
— US Attorney SDNY (@SDNYnews) January 17, 2020
BREAKING: Chris Collins, the first Member of Congress to endorse Trump, was just sentenced to more than two years in jail. Duncan Hunter, the second endorser, just pleaded guilty and awaits sentencing. https://t.co/w4vpMci60V
— Citizens for Ethics (@CREWcrew) January 17, 2020
Chris Collins, a Republican from New York who was the first congressman to support Donald Trump in 2016, received an 26-month prison term for insider trading https://t.co/KMaYbZhRiB
— The New York Times (@nytimes) January 17, 2020
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