Former Rep. Chris Collins sentenced to 26 months in prison in biotech insider trading scheme
Chris Collins, a former Republican lawmaker and longtime ally of President Trump, was sentenced Friday to 26 months in prison, according to local reporters, months after pleading guilty to insider trading for illegal dealings surrounding an Australian biotech company.
Collins, who leaked confidential information about a failed drug trial to his son and other associates, resigned his seat in Congress in October after entering a guilty plea. His sentencing caps a three-year saga that also implicated his family, at least four fellow congressmen, and Trump’s onetime health secretary. All have been dogged by allegations that they acted unethically, and in some cases illegally, when they purchased or sold shares of Innate Immunotherapeutics.
