Page 3 - ARUBA TODAY

A3
U.S. NEWS Thursday 9 augusT 2018
INSIDER TRADING trades avoided more culture of corruption and
Continued from Front than $768,000 in losses, self-enrichment among
The indictment charges authorities said. They said Republicans in Washington
Collins, his son and the Zarsky traded on it and today."
father of the son's fiancee tipped off at least three Collins ran unopposed in
with conspiracy, securities others. the Republican primary
fraud, wire fraud and U.S. Attorney Geoffrey S. and holds what's largely
making false statements to Berman, a Republican, said considered a safe
the FBI. Collins was supposed to Republican seat in a state
Speaking to reporters keep the trial results secret. that went to Democratic
in Buffalo hours after his "Instead, he decided to presidential nominee Hillary
release on bail, Collins, 68, commit a crime," he said. Clinton in 2016. He's being
professed his innocence "Representative Collins, challenged in November
and said he would remain who, by virtue of his office, by Democrat Nate
on the ballot for re-election helps write the laws of this McMurray.
this fall. country, acted as if the law McMurray said Collins has
"I believe I acted properly did not apply to him." brought shame to the
and within the law at all Collins, a conservative first region, but he stopped
times," he said. "I will mount elected in 2012 to represent short of saying he should
a vigorous defense in parts of western New York resign.
court to clear my name. between Buffalo and "That's his decision to
I look forward to being Rochester, has vehemently make. I'll leave it up to him,
fully vindicated and denied wrongdoing. When but I know what I would
exonerated." the House Ethics Committee do if I was in his place,"
Prosecutors said the charges began investigating the said McMurray, the town
stem from Collins' decision stock trades a year ago, his supervisor in the Buffalo Geoffrey Berman, the United States Attorney for the Southern
to share with his son insider spokeswoman called it a suburb of Grand Island. District of New York, announces an indictment of Congressman
Christopher Collins, (R-NY), Wednesday, Aug. 8, 2018, in New
information about Innate "partisan witch hunt." The advocacy group Public York.
Immunotherapeutics Ltd., All three defendants Citizen filed a request for Associated Press
a biotechnology company pleaded not guilty and an investigation of Collins'
headquartered in Sydney, were freed on $500,000 stock dealings with the while he was a Republican bought about 400,000
Australia, with offices in bail. Office of Congressional member of Congress from shares of the stock, said
Auckland, New Zealand. In his Buffalo news Ethics and the Securities Georgia. Democrats made he'd learned of the firm
Collins was the company's conference, Collins and Exchange Commission an issue of Price's purchase through Collins but said
largest shareholder, with acknowledged being in January 2017. at his Senate confirmation the price he received was
nearly 17 percent of its disappointed that Innate's Tom Price, who was hearings in early 2017, after available to any investor.
shares, and sat on its board. drug trials didn't go well. Trump's first secretary of the Wall Street Journal Price resigned as health
According to the "We firmly believed we the Department of Health reported that company secretary last September
indictment, Collins were on the verge of a and Human Services, also officials had said Price was under criticism for taking
was attending the medical breakthrough," he came under scrutiny for his allowed to buy the stocks pricey charter flights at
Congressional Picnic at the said. purchases of Innate stock at a low price. Price, who taxpayers' expense.q
White House on June 22, But he said that even after
2017, when he received an learning of the setback, "I
email from the company's held on to my shares rather
chief executive saying than sell them" as the law
that a trial of a drug the required.
company developed to He said the decision not
treat multiple sclerosis was to sell cost him millions of
a clinical failure. dollars.
Collins responded to the "That's OK," he said. "That's
email saying: "Wow. Makes the risk I took."
no sense. How are these Collins has remained a
results even possible???" vocal Trump supporter,
the indictment said. most recently calling
It said he then called his for an end to special
son, Cameron Collins, and, counsel Robert Mueller's
after several missed calls, probe into possible
they spoke for more than campaign collusion and
six minutes. blaming Barack Obama's
The next morning, administration for failing to
according to the push back on Russia.
indictment, Cameron On Wednesday, House
Collins began selling Speaker Paul Ryan, a
his shares, unloading Republican, said he was
enough over a two-day removing Collins from
period to avoid $570,900 the House Energy and
in losses before a public Commerce Committee,
announcement of the calling insider trading "a
drug trial results. After clear violation of the public
the announcement, the trust."
company's stock price In a written statement
plunged 92 percent. Wednesday, House
Prosecutors said the son Minority Leader Nancy
passed the information to Pelosi, D-Calif., said the
a third defendant, Stephen charges against Collins
Zarsky. Their combined "show the rampant