Everyone in Trump's Orbit Keeps Getting Indicted
If there’s one thing that binds the Trump universe together, it’s the oppressive stench of shady activity. This applies to those closest to the president, as well those orbiting him from a distance, like Rep. Chris Collins (R-NY), a back-bench lawmaker who in February 2016 became the first member of Congress to officially endorse Trump’s campaign. On Wednesday morning, Collins surrendered to authorities after being indicted on a number of charges related to securities fraud. Central among the allegations is the lawmaker’s involvement with Australian pharmaceutical company Innate Immunotherapeutics Limited. Federal prosecutors allege that Collins sold his stake in the company shortly before the unfavorable results of a drug test it had conducted became public.
“We will answer the charges filed against Congressman Collins in Court and will mount a vigorous defense to clear his good name,” read a statement from Collins’ lawyers. “It is notable that even the government does not allege that Congressman Collins traded a single share of Innate Therapeutics stock. We are confident he will be completely vindicated and exonerated.”
House Speaker Paul Ryan isn’t as confident as Collins’ lawyers. Shortly after the news broke, Ryan announced he is removing Collins from the House Energy and Commerce Committee. “While his guilt or innocence is a question for the courts to settle, the allegations against Rep. Collins demand a prompt and thorough investigation by the House Ethics Committee,” said the speaker.
The indictment details strong allegations of insider trading. Collins served on the board of Innate Immunotherapeutics Limited. In June 2017, he and the rest of the board members received an email from the company’s CEO informing them that a drug test had failed. Shortly after receiving the email, Collins called his son. The next morning, his son sold over 16,500 shares of the company’s stock, avoiding losses of over $750,000.
https://www.rollingstone.com/politics/politics-news/collins-indictment-707943/
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