Judge rejects Chris Collins' bid for more evidence; bars talk of ethics investigation at trial

[riversedge]

2. Good article--Here are the details of Collins alledged insider trading at a WH picnic...........

.....Prosecutors say Rep. Collins launched a series of insider stock trades with a cell phone call to his son from a White House picnic in late June 2017.

As guests gathered for the picnic, Collins — then an Innate Immunotherapeutics board member — got an email from the company's CEO with devastating news. The company's only product, an experimental treatment for secondary progressive multiple sclerosis, had failed in clinical trials.

Rep. Collins' stock was held in Australia, where trading in Innate stock had been halted, and he didn't sell any of his shares. But prosecutors say that thanks to the insider information Cameron Collins got from his father, the younger Collins was able to quickly dump his Innate stock on the U.S. over-the-counter market, thereby saving himself from $570,900 in losses.

Prosecutors also allege that Cameron Collins told Zarsky the bad news, prompting him to sell his Innate shares, too, thereby avoiding $143,900 in losses.