These 6 Republicans are connected to the insider trading scandal that just exploded on a Trump-lovin
Tana Ganeva 08 AUG 2018 AT 11:27 ET
On Wednesday, Rep. Chris Collins (R-NY) was arrested for insider trading. Collins allegedly shared non-public information about Innate Immunotherapeutics, an Australian drug company developing a drug to treat multiple sclerosis.
When that drug failed a clinical trial in Australia, the company’s stock plummeted. Collins is accused of telling his son about the disappointing results ahead of the public announcement, leading his son, his son’s father-in-law, and others to unload stocks before the drop. They avoided losing $768,000, according to the indictment.
For years, Collins’ relationship to Innate raised concerns in the Capitol.
In 2017, Rep. Louise Slaughter (D-N.Y.), called for an investigation, citing Collins’ cozy relationship with the biotech drug company after its value dropped. The New York Republican held a 16 percent stake in the company.
“Innate plummeted in value by more than 90 percent literally overnight. This follows the company previously suggesting a great response to its drug and touting that it stood to generate as much as $3 billion in profits in this country alone,” Slaughter said in a statement.
https://www.rawstory.com/2018/08/6-republicans-connected-insider-trading-scandal-just-exploded-trump-loving-congressman/
Lock them UP........................
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