Former Rep. Chris Collins Gets Over 2 Years In Prison For Insider Trading & Perjury
Former Rep. Christopher Collins was sentenced to twoand a half years in prison after he was found guilty of insider trading and perjury. He’s known for being the first congressional member to endorse President Donald Trump.
Collins is guilty of helping his son and others dodge around $800,000 in stock market losses after learning a drug trial by a small pharmaceutical company had failed. He was sentenced by U.S. District Judge Vernon Broderick in Manhattan after pleading guilty in October.
In court, Collins emotionally apologized to his family and former constituents in a statement. “I violated my core values and there is no excuse, none whatsoever,” he said.
Collins’ lawyers argued that his poor decision was an emotional one and that he wasn’t thinking straight when he did it. They said that because he was sorry, he should be granted leniency with no jail-time.
Prosecutors were looking to have Collins sentenced for five years, disagreeing that his decision was made without prior consideration, noting that he later lied to investigators about the original offence.
After the sentencing, his defense attorney, Jonathan Barr, said, “This is a sad and tragic day for Chris and his family. He stands before you humbled, penitent and remorseful.”
Collins was a New York representative of the 27th Congressional district from 2012 up to his resignation, when he pleaded guilty to the charges against him.
In a statement, Geoffrey Berman, a Manhattan U.S. attorney, said, “Lawmakers bear the profound privilege and responsibility of writing and passing laws, but equally as important, the absolute obligation of following them. Collins’ hubris is a stark reminder that the people of New York can and should demand more from their elected officials, and that no matter how powerful, no lawmaker is above the law.”
Collins is set to begin serving his sentence on March 17th.
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