His son, Cameron Collins, who avoided financial losses by selling his Innate stock following his father's tip, is due to be sentenced next week.
Former Republican Rep. Chris Collins has been sentenced for"participating in a scheme to commit insider trading and for making false statements to federal law enforcement agents when interviewed about his conduct," according to the Justice Department.
Collins admitted to his role in the scheme last year, after initially denying any wrongdoing during his re-election campaign in 2018. The former New York 27th district representative pleaded guilty to felony conspiracy and false-statement charges on October 1, 2019. Former U.S. Rep. Chris Collins enters U.S. District Court ahead of a sentencing hearing on January 17, 2020 in New York City."Former New York Congressman and Innate board member Christopher Collins received confidential, nonpublic information that one of Innate's drugs in development had just failed a clinical trial.
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