Chris Collins, the first Congressman to endorse Donald Trump, indicted for insider trading.

By | 2018-08-09T06:17:36+00:00 August 8th, 2018|Categories: Front Page, News|Tags: , , , , , |11 Comments

“It’s the dumbest insider trading crime I’ve ever seen.”

Courtesy of CNN:

Federal prosecutors in New York on Wednesday charged New York Republican Rep. Chris Collins, his son and another man with 13 counts of securities fraud, wire fraud and false statements stemming from an alleged insider trading scheme centered on an Australian pharmaceutical company.

Collins, who was the first sitting member of Congress to endorse Donald Trump’s presidential bid, surrendered Wednesday morning at his attorney’s office in Manhattan, according to the FBI.

Prosecutors at the US Attorney’s Office for the Southern District of New York alleged in an indictment that Collins and the other defendants used nonpublic information about the results of a drug trial to trade on the stock of the pharmaceutical company, Innate Immunotherapeutics Limited, of which Collins was a board member.

That allowed them, prosecutors allege, to avoid more than $768,000 in losses they would have incurred if they had traded the stock after the drug trial results became public.

Collins “placed his family and friends above the public good,” said US Attorney Geoffrey Berman at a news conference Wednesday in New York City. Berman also stated Collins “cheated our markets and our justice system.”

Get this courtesy of Raw Story:

The details of the alleged crimes of Rep. Chris Collins (R-NY), a Trump-loving lawmaker from western New York state who stands accused of insider trading, are so “idiotic” that analysts on CNN could hardly believe them.

According to prosecutors, Collins was at the White House when he learned that a drug trial from a firm he invested heavily in had failed, and so he called his son seven times trying to alert him. The son sold his stock the next day.

“It’s completely idiotic,” said CNN legal analyst Paul Callan. “It’s the dumbest insider trading crime I’ve ever seen.”

Given an unencrypted cell phone was apparently used from the grounds of the White House, the details almost defy believability, said CNN’s Dana Bash.

“If you saw this on House of Cards—so the president is going to be there and have the congressman over for a picnic,” said Bash. “He’s going to get the call from this CEO and call his son. You’d be like, ‘really?’ This would never happen. Nobody would do that.”

So once again we learn that Trump’s closest associates are essentially a band of criminals. 

And jaw-droppingly dumb criminals at that. 

I am going to hazard a guess that Robert Mueller is sitting on reams of evidence which prove that Donald Trump and virtually everybody that he associates with are as yet unindicted criminals. 

About the Author:

This blog is dedicated to finding the truth, exposing the lies, and holding our politicians and leaders accountable when they fall far short of the promises that they have made to both my fellow Alaskans and the American people.

11 Comments

  1. Anonymous August 8, 2018 at 3:49 pm

    Birds of a feather…

    Supposedly there are 7 other republicans involved.

    Just read that Hope is considering becoming trump’s chief of staff..does that include pants pressing?

  2. anonymous August 8, 2018 at 4:22 pm

    https://www.politicususa.com/2018/08/08/trump-ally-chris-collins-gop.html

    “Collins is not only caught for being sort of a swamp creature and using insider trading to make himself rich. He’s connected to Trump and he told several other members. So in the process of this investigation, this may connect to four, five, six, seven other members of Congress that he may have delivered this information to. It could take all of them out. “

    • Anonymous August 8, 2018 at 6:57 pm

      At this point we really have to stop insulting the swamp dwellers ,which have a purpose. ( I am speaking of actual swamps like the everglades)

      these folks are more the like putrid, slime found in decaying garbage landfills.

  3. ANONYMOUS August 8, 2018 at 4:29 pm

    ot?”“CONgressman Collins cheated our market and our justice system in two ways,” said attorney Geoffrey Berman said at a news conference Wednesday. “First, he tipped his son to confidential corporate information at the expense of regular investors. And then he lied about it to law enforcement to cover it up.”

    Collins’ district is still a very Republican district, so it is doubtful that a Democrat could prevail there. In a year where Democrats are competitive in GOP seats, however, anything is possible.”

    https://www.rawstory.com/2018/08/rep-chris-collins-says-will-never-answer-questions-securities-fraud-indictment/

    https://www.rawstory.com/2018/08/tweet-threatens-waste-everyone-town-hall-event-devin-nunes-opponent/

  4. ANONYMOUS August 8, 2018 at 4:43 pm

    “1. HE’S OUT8 hours ago
    Paul Ryan Boots GOP Rep. Collins From Energy Committee After Arrest for Insider Trading ” “After Rep. Chris Collins (R-NY) was arrested Wednesday on federal charges of insider trading and lying to the FBI, Speaker of the House Paul Ryan announced that the lawmaker would be temporarily removed from his position on the House Energy and Commerce Committee. “While his guilt or innocence is a question for the courts to settle,” Ryan said Wednesday according to a press release, “the allegations against Rep. Collins demand a prompt and thorough investigation by the House Ethics Committee. Insider trading is a clear violation of the public trust. Until this matter is settled, Rep. Collins will no longer be serving on the House Energy and Commerce Committee.” As The Daily Beast reported this morning, Collins is charged with using his position at a pharmaceutical company to warn his son that the company’s multiple-sclerosis drug had failed its FDA trial in 2017. His son, Cameron, then dumped more than 50,000 shares of his stock in the company before that knowledge became public. Both Collins and his son are also charged with lying to the FBI.”<The Daily Beast

  5. Anonymous August 8, 2018 at 5:07 pm

    Arrest Of Trump Ally Chris Collins Could Take Down More Than A Half-Dozen Other Republicans

    The insider trading scandal that led to Wednesday’s arrest of Republican Rep. Chris Collins of New York might turn out to be a party-wide controversy that could bring down more than a half-dozen other GOP lawmakers.

    In an interview on MSNBC’s Hardball, political commentator Jason Johnson explained how the Collins arrest comes at the worst possible time for Republicans.

    “In the process of this investigation, this may connect to four, five, six, seven other members of Congress that he may have delivered this information to,” Johnson said. “It could take all of them out.”

    Video:

    https://www.politicususa.com/2018/08/08/trump-ally-chris-collins-gop.html

    Rep. Chris Collins Runs From Reporters After Refusing To Resign Over Insider Trading Charges

    Rep. Chris Collins stormed off the stage on Wednesday after delivering a weak response to his insider trading charges and refusing to resign his seat in Congress.

    “After today, I will not address any issues related to Innate Immunotherapeutics outside of the courtroom,” Collins said, referring to the Australian company at the center of this scandal. “I will remain on the ballot, running for re-election this November.”

    Video:

    https://www.politicususa.com/2018/08/08/collins-resign-insider-trading-charges.html

  6. Anonymous August 8, 2018 at 5:19 pm

    The real reason Omarosa’s tapes of Donald Trump are so devastating

    Stop us if you’ve heard this one before. Donald Trump hired an unscrupulous and unqualified person to do corrupt work for him, and that person ended up making secret recordings of Trump along the way. That’s right, Michael Cohen isn’t the only one who has tapes. Former reality star Omarosa has revealed that she also has Trump tapes. She’s played them privately for enough people that it’s become clear the tapes really do exist. There is a specific reason why these tapes are so devastating.

    …The second devastating aspect for Donald Trump is that, unlike with Michael Cohen, these tapes were made in the White House. These tapes aren’t isolated conversations about how to deal with one personal scandal. They’re a snapshot of the general day-to-day condition that Trump is truly in. Omarosa is asserting in her book that Trump is more or less senile. This suggests that her tapes demonstrate as much. That could prove to be more devastating to Trump’s prospects of remaining in office than any tapes revealing his criminal nature, which everyone more or less already knows about.

    The third devastating aspect is this: we now know that Omarosa was secretly recording Donald Trump while he was on the job, and getting away with it. That means Trump’s White House really was being run in that lax of a manner. In turn that means that if Omarosa was making secret tapes of Trump inside the White House, she can’t have been the only Trump adviser who was doing so. Look for more of Trump’s former people to reveal they have White House tapes as well.

    http://www.palmerreport.com/analysis/the-real-reason-omarosas-tapes-of-donald-trump-are-so-devastating/11882/

  7. Anonymous August 8, 2018 at 5:55 pm

    Secret recording shows GOP’s Nunes saying Rosenstein impeachment would delay Supreme Court pick

    “Do you want them [the Senate] to drop everything and not confirm the Supreme Court justice?” Rep. Devin Nunes said at a recent fundraiser.

    Hard-line conservative Republicans in the House recently hit a roadblock in their effort to impeach Deputy Attorney General Rod Rosenstein when Speaker Paul Ryan opposed the move. But one of those conservatives, Rep. Devin Nunes, R-Calif., gave a different explanation to donors recently when asked why the impeachment effort had stalled.

    He said it’s because an impeachment would delay the Senate’s confirmation of Brett Kavanaugh to the Supreme Court.

    Nunes, chairman of the House Intelligence Committee, made the statement in an audio recording surreptitiously made by a member of a progressive group who attended a Republican fundraiser on July 30 in Spokane, Washington. The recording was obtained by the Rachel Maddow Show and was played on MSNBC on Wednesday night.

    Asked about the the impeachment plans, Nunes told a questioner that “it’s a bit complicated” because “we only have so many months left.”

    “So if we actually vote to impeach, OK, what that does is that triggers the Senate then has to take it up,” he said on the recording. “Well, and you have to decide what you want right now because the Senate only has so much time.”

    https://www.nbcnews.com/politics/politics-news/secret-recording-shows-gop-s-nunes-saying-rosenstein-impeachment-would-n899031

  8. Anonymous August 8, 2018 at 5:59 pm
  9. grape August 9, 2018 at 12:29 am

    Stunning.
    Stunning story about Piper!!!

    https://www.npr.org/sections/talk/2008/09/piper_palin_future_stylist.html

    DEMAND CONGRESS LOOK INTO THIS!!

  10. anon August 9, 2018 at 8:13 am

    OT?
    https://www.newsweek.com/betsy-devos-cayman-islands-taxes-yacht-flag-foreign-donald-trump-america-1061960

    “Betsy DeVos did not respond to Capital & Main’s questions about her family’s Cayman-registered yacht; the larger question about foreign yachts was never deeply explored during the 2012 kerfuffle over the foreign flags on Mitt Romney’s boat. Interviews with maritime attorneys suggest it is a scheme that allows wealthy Americans to feign foreign status—and glean the lucrative benefits offered by offshore tax havens.”

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