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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUp to a dozen GOP congressmen could be in trouble in this insider trading scandal
https://www.houstonchronicle.com/news/politics/article/Houston-congressman-sold-biotech-stock-10-days-13141804.phpWASHINGTON Ten days before the crash of an obscure Australian biotech stock at the center of Wednesday's federal indictment of New York Republican Rep. Chris Collins, Houston Republican John Culberson quietly sold all his shares.
Though the congressman lost $9,194 on the deal last year, the transaction would prove to be a fortuitous financial move, something he said he did "simply to cut my losses."
The Innate Immunotherapeutics stock, which Culberson sold on June 12, 2017, for about AU$7.35 a share, was worth less than 5 cents a share two weeks later on news of a failed clinical test for an experimental drug to treat multiple sclerosis.
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Up to a dozen GOP congressmen could be in trouble in this insider trading scandal (Original Post)
sunonmars
Aug 2018
OP
SWBTATTReg
(22,166 posts)1. God, doesn't any republicans know how to make a buck the right way, ...
by earning it and not cheating?
LandOfHopeAndDreams
(872 posts)2. He Sold 10 Days Before Crash
When did Collins find out that the clinical trials failed? I'm not sure they could tie it to this situation, unless it occurred following Collins learning about the failure. It will be interesting to see if another shoe drops.
sunonmars
(8,656 posts)3. Nothing is a coincidence with this lot...NOTHING.
GoCubsGo
(32,094 posts)4. I'm thiinking that headline will eventually read, "At least a dozen..."
I just get the feeling this one is a lot more widespread than what it appears to be. And, deeper.
Gothmog
(145,567 posts)5. Culbertson in Texas CD 7 is one of the republicans who need to account