Rep. Chris Collins Accused of Tipping Others to Sell Drug Stock
- U.S. says first sitting congressman charged in insider trading
- N.Y. congressman came under fire for drug company investment
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A New York congressman and his son were indicted for insider trading related to the shares of an Australian biotechnology firm, federal prosecutors in Manhattan said on Wednesday.
Christopher Collins, a Republican Congressman representing the 27th District of New York, his son Cameron Collins, and Stephen Zarsky, the father of Cameron Collins’s fiancée, were charged by federal prosecutors in Manhattan. Prosecutors believe it to be the first insider-trading case against a sitting congressman.