ADDING INSULT TO INDICTMENT
Legal Analyst Calls 'Dumbest Insider Trading Crime I've Ever Seen'
On Wednesday, Chris Collins, a Republican who represents New York's 27th Congressional district, was arrested in connection with an insider trading scheme, tied to Australian pharmaceutical company Innate Immunotherapeutics Limited. According to the charges, Collins — who sat on the Innate's board — received bad news about trial results, which he passed on to his son and his son's future father-in-law. What's more, Collins apparently did so while on the White House lawn, and was caught on camera on the phone.
Legal analyst Paul Callan, speaking on CNN, did not mince his words:
Collins has reportedly pleaded not guilty.
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