New York Congressman Resigns, Expected to Plead Guilty for Insider Trading

New York Congressman Chris Collins resigned today. Collins is also expected to plead guilty to Federal Charges for Insider Trading.

Manhattan Federal Prosecutors say the congressman traded stock based off of the results of a pharmaceutical company’s private drug trial.

Collins, who is a board member of the company, used this information to avoid nearly $800,000 in losses.

The Congressman’s resignation goes into effect on Tuesday.

Follow OU Nightly on Facebook and Twitter for further updates.

Categories: News

Tagged as: ,

Add a comment ...

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s