Chris Collins arrested on charges of insider trading

[2ndthyme]

https://www.cnbc.com/2018/08/08/gop-...ng-charge.html

Collins learned of a huge failed drug trial by an Australian biotech firm due to his position on the pharmaceutical's board. Before it was made public, he called his son who sold his holdings and passed the info to his father in law who also sold his stock. Both men also informed various others who acted on the insider info, saving themselves over 700,000 in losses as the company's stock price fell 95% when the failed trial was announced.

Collins was a big surragate for the Trump campaign, most notably supporting the right not to release his tax filings, saying it would be unfair for Trump's business competitors to see his financial information.