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GOP REP Chris Collins pleads not guilty to revised insider-trading charges

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Rep. Chris Collins, R-NY, is a plea not guilty on Thursday in a Manhattan Federal court to charges in a new indictment arising from his arrest for alleged insider trading.

Collins, who joined in the last year, a not guilty on the original insider trading charges, was accused on a transfer fee charges, the prosecutors hoped that the speed, the case against the New York Republicans.

The new charges against Collins tightens the lawsuit against the legislature by holding only five of the original eight securities fraud counts from the original indictment. The new indictment also drops two of the original eight securities fraud charges against the Congressman’s son, Cameron Collins, while the rest of the levies in place.

NEW YORK REP. CHRISTOPHER COLLINS INDICTED ON INSIDER-TRADING CHARGES

“The government has made these changes in the original indictment, in an effort to avoid unnecessary custody litigation, the delay of the resolution of the matter,” Geoffrey S. Berman, the U.S. attorney for the Southern district of New York, wrote in a letter to the judge in the case Collin’s study is planned to begin sometime in the early 2020s, but his lawyers are expected to push to have it delayed due to the severance charge.

Together with Collins and his son, Stephen Zarsky, father of Colin ‘s son’ s fiancée, was also charged in the case. The fraud counts related to securities held by an Australian biotechnology company called Innate immune therapeutics, where the 69-year-old Congressman served on the board.

Prosecutors claim that Collins forward secrets to his son, Cameron, in June 2017. You say that the son acted on the inside information and gave them to Zarsky. She added that Zarsky traded on and tipped at least three others.

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According to the original indictment, Collins specifically word a drug the company developed for the treatment of multiple sclerosis was good in a medical study and went to the top of his son.got up early

Prosecutors said the three avoided over $768,000 in losses by trading before the public announcement of the failed drug trials.

The interest group Public Citizen filed a request for an investigation of Collins’ camp dealing with the office of Congressional ethics and the Securities and Exchange Commission in January 2017.

The Congressman, who has served New York, 27th District since 2013, surrendered to Federal agents in Manhattan last August.

In the year 2017, the house ethics Committee probed the Congressman in the turmoil of the late Republic Louise Slaughter. She is the author of Act of the SHARES, the excluded, the legislature and the helpers from the use of proprietary information for trading of securities.

The ethics Committee report on Collins was confused. It is not punished Collins. But it has not relieve him.

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When asked about the report by Fox News, Collins at the time of slaughter, called “a shameful man.” Collins disputed the findings and said he has “always ethics followed.”

According to the indictment, Collins last year, then speaker of the house of representatives Paul Ryan Collins removed from his post on the House Energy and Commerce Committee, and called the insider trading charges “is a clear violation of the public trust.”

Collins has to support a track record of public coverage of Trump, to sit including that of one of the first members of Congress back his candidacy. While he said it originally last year, he would not be put forward for re – election, according to the indictment against him, he reversed course and finally, defeated democratic Challenger Nate McMurray, albeit by a much narrower margin than previously expected, 49.1 percent to McMurray 48.8 percent.

Fox News’ Marta Dhanis and The Associated Press contributed to this report.

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