Prosecutors recommend nearly 5 years in prison for disgraced former GOP Rep. Chris Collins
Federal prosecutors on Monday recommended that former Rep. Chris Collins be sentenced to nearly five years in prison — the maximum prison sentence — for his role in an insider trading case that led to his arrest and eventual downfall in Congress.
Collins, one of President Donald Trump’s earliest backers on Capitol Hill, is due to be sentenced on Jan. 17. Collins, who served on the board of directors for Innate Immunotherapeutics, was accused of giving nonpublic information about drug trial results to his son to help him make timely trades and tip off others. Collins did not sell his Innate shares and lost roughly $17 million after the results were announced, but his son reportedly avoided more than $570,000 in losses because of the alleged tip from the congressman. Collins’ son is a co-defendant in the case.
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