Former GOP Rep. Chris Collins sentenced to federal prison on insider trading charges
Former GOP Rep. Chris Collins was sentenced on Friday to two years in federal prison on charges of insider trading and lying to the FBI, reports NBC News.
Collins, who was a New York representative since 2013 and was the first member of Congress to endorse President Trump's candidacy, pleaded guilty to tipping off his son to confidential information regarding an Australian biotechnology company, which allowed them to make illegal stock trades avoiding more than $700,000 in losses.
At his sentencing, Collins tearfully apologized, reports The Washington Post. "I stand here today a disgraced former congressman," he said. "I cannot face my constituents. What I have done has marked me for life." The 26-month sentence will begin on March 17, and will likely be served at a federal prison camp in Pensacola, Florida.
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Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.
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