The House Ethics Committee investigated him for violation of insider trading rules last year, now he's in the NY Attorney General's crosshairs....
Representative Chris Collins (R-NY) was indicted today - along with this son and his son's future father-in-law - on 13 counts of securities fraud, wire fraud and making misstatements about the activities (aka lying). At issue are trades in Innate Immunotherapeutics, for which Collins is a board member and its largest stockholder. In efforts to prevent significant losses, they allegedly sold ahead of public disclosure of the findings of clinical trials. Read our article at:
So the question of the day is: should insider trading be illegal?