GOP Rep. Chris Collins Used Campaign Funds to Pay Legal Bills for Insider Trading Investigations

Rep. Chris Collins (R-NY) (centre) walks out of a New York court house after being charged with insider trading on August 8, 2018 in New York City. 

Spencer Platt
Chris Collins (R-NY) (centre) walks out of a New York court house after being charged with insider trading on August 8, 2018 in New York City.

Rep. Chris Collins, R-N.Y., used campaign funds to pay legal bills while he faced investigation for alleged insider trading for more than a year.

A federal criminal investigation culminated in his arrest Wednesday, but before that he was under scrutiny by congressional ethics investigators.

Federal prosecutors in the Southern District of New York allege that Collins, while he was a board member of Australian company Innate Immunotherapeutics, gave a tip to his son Cameron last year about a failed drug trial that would soon be announced. His son used that information to dump the stock and avoid a six-figure loss, the Justice Department alleges, and Cameron Collins passed that information along to his father-in-law.

 New York GOP Rep. Chris Collins was arrested on insider trading charges  

 

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