New York Congressman Collins Arrested On Insider Trading Charges

[Swordsmyth]

Republican Congressman Chris Collins, representing upstate New York and one of Trump's top defenders on Capitol Hill, surrendered to the FBI on Wednesday morning on securities fraud-related charges, NBC News reported.
Collins, 68, faces insider trading charges along with his son, Cameron Collins, and Stephen Zarsky, the father of Cameron Collins' fiancée, according to the U.S. Attorney's Office in the Southern District of New York.
https://www.zerohedge.com/sites/default/files/inline-images/chris%20collins%20teaser.jpg
The case is related to Innate Immunotherapeutics, an Australian biotech company, on which the elder Collins served on the board.
The U.S. Attorney for the Southern District of New York scheduled a news conference to announce announce the insider trading charges against Collins.
Collins, one of Donald Trump's early supporters in his bid for president, is expected to appear in federal court later Wednesday in Manhattan, NBC reported (https://www.nbcnews.com/politics/politics-news/new-york-rep-chris-collins-arrested-insider-trading-charges-n898661).
The three-term incumbent represents New York's 27th Congressional District, which includes suburbs of Buffalo and Rochester, and is up for re-election in November. He has raised more than $1.34 million in his campaign war chest, according to the latest Federal Election Commission filing.
At the crux of the Collinses' alleged scheme is the passing along information about a failed drug trial so the family and in-laws could cut their losses (per Aaron Blake (https://twitter.com/AaronBlake/status/1027191402353053696/photo/1)).
https://www.zerohedge.com/sites/default/files/inline-images/DkFREdyXsAA_qJp.jpg
According to the indictment, Collins allegedly tipped off his son, who dropped 1.4 million of his own shares over next few days, right before bad drug trial news became public.
https://www.zerohedge.com/sites/default/files/inline-images/collins%20dump.jpg
And the punchilne: while the alleged scheme only saved its co-conspirators $768,000, Collins, meanwhile, reportedly lost $16.7 million.
https://www.zerohedge.com/sites/default/files/inline-images/DkFTPKaWsAAZyha.jpg_large.jpg



https://www.zerohedge.com/news/2018-08-08/new-york-congressman-collins-arrested-insider-trading-charges

[Swordsmyth]

On Wednesday, Collins said the charges were "meritless" and said he would remain on the ballot for re-election.

pic.twitter.com/a3N8tKFpuU (https://t.co/a3N8tKFpuU)
— Rep. Chris Collins (@RepChrisCollins) August 11, 2018 (https://twitter.com/RepChrisCollins/status/1028280002121482240?ref_src=twsrc%5Etfw)
But on Saturday, he said that after discussions with family and friends, that he had decided it was in the best interests of his constituents, the GOP and President Trump for his to suspend the campaign.
"I will fill out the remaining few months of my term to assure that our community maintains its vote in Congress to support President Trump’s agenda to create jobs, eliminate regulations, reduce the size of government, address immigration and lower taxes," he said in the statement.
He added that he will fight the "meritless" charges against him and looked forward to being cleared.

More at: http://www.foxnews.com/politics/2018/08/11/rep-chris-collins-suspends-re-election-campaign-after-being-indicted-on-insider-trading-charges.html

[Swordsmyth]

Mainstream media has often been accused of focusing on the flaws of Republicans while looking the other way when it comes to Democrats. Consider this week's coverage of the arrest of Rep. Chris Collins, R-N.Y.
The Media Research Center reported that ABC, CBS and NBC combined to cover Collins’ arrest on evening and morning newscasts for a combined 18 minutes and 24 seconds (https://www.newsbusters.org/blogs/nb/scott-whitlock/2018/08/09/deluge-arrest-gop-rep-gets-18-times-coverage-corrupt-dems) during the first 24 hours of coverage. The MRC study also noted that similar ordeals involving a Democrat received little to no attention from the same networks.
Former Democrat Rep. Chaka Fattah resigned in 2016 after being convicted of federal corruption charges including bribery, racketeering, money laundering and bank fraud. The networks spent more time on Collins in one day than they did on Fattah in over a year, according to the MRC.
“During the year-and-a-half period in between his indictment and conviction for bribery and fraud, the ABC, CBS and NBC morning and evening programs managed a scant 68 seconds,” MRC associate editor Scott Whitlock wrote.
Former Florida Rep. Corrine Brown was sentenced last year to five years in prison over a variety of charges including fraud, but the networks ignored it all together. ABC, NBC and CBS combined for zero minutes of coverage from Brown’s indictment through sentencing, according to the MRC.
According to the MRC, CBS spent 7 minutes and 6 seconds on the Collins story, while ABC spent 5 minutes and 41 second and NBC dedicated 5 minutes and 37 seconds of airtime on the story.
CBS, ABC and NBC did not immediately respond when asked about the study.

More at: http://www.foxnews.com/entertainment/2018/08/10/study-suggests-mainstream-media-double-standard-at-work-after-arrest-rep-chris-collins.html

[enhanced_deficit]

SM is unnecessarily invoking MAGA link to this story.

But if this is not fakenews comedy, could Deep Stage be behind this?



https://www.youtube.com/watch?v=ZfwqMM4n0CQ
https://www.youtube.com/watch?v=ZfwqMM4n0CQ

[Swordsmyth]

Indicted U.S. Rep. Chris Collins of New York will remain on the November ballot despite previously suspending his campaign, confounding Republican Party leaders in his district Monday who had counted on Collins' cooperation to replace him.The surprise decision by Collins, who pleaded not guilty to insider trading charges in August, throws the race for the western New York seat further into turmoil.
Erie County GOP Chairman Nick Langworthy said Collins confirmed his plans to him Monday morning, suggesting in a phone call that removing himself from the ballot could undermine his legal defense.
"As of last Monday, Mr. Collins was fully prepared to work with party officials to substitute himself from the ballot, so we had no reason to expect this," said Langworthy, who said he felt "a little bit like a jilted groom at the altar."
In a statement later, Collins' attorney Mark Braden said: "Because of the protracted and uncertain nature of any legal effort to replace Congressman Collins we do not see a path allowing Congressman Collins to be replaced on the ballot."
There was no immediate comment from Collins, and it was not clear whether he would actively campaign. Collins, an early and ardent supporter of President Donald Trump, has a $1.3 million campaign war chest.

More at: https://www.yahoo.com/news/gop-officials-collins-stay-ballot-despite-indictment-163257059--election.html