Facing Insider Trading Charges, Collins Maintains Innocence
Western New York Republican Congressman Chris Collins says he will seek reelection as he fights charges that he used inside information about a biotechnology company to make illicit stock trades.
Collins was serving as a board member for Innate Immunotherapeutics when prosecutors say he received an email during a picnic last year at the White House that said the company’s medication had failed an important medical trial. They say Collins told his son, who then dumped his stock in the company before the trial results were announced publicly.
Collins, from New York’s 27th House district, maintained his innocence at a press conference Wednesday night.
“The charges that have been levied against me are meritless, and I will mount a vigorous defense in court to clear my name,” says Collins.
Collins is a staunch supporter of President Donald Trump and was among the first members of Congress to endorse him. Collins is due back in court October 11th.