News

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.

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