Rep. Chris Collins, R-N.Y., leaves the House Republican Conference meeting in the Capitol on Wednesday, June 20, 2018. (Bill Clark/CQ Roll Call)

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New York Republican Congressman Chris Collins to Be Indicted on Insider Trading

The indictment also charges his son, Cameron Collins.

Representative Chris Collins, R-N.Y., will be indicted by the Justice Department on insider trading charges, reports CNBC. Federal prosecutors made the announcement on Wednesday morning. The indictment, obtained from a federal grand jury, also charges Collins’ son, Cameron Collins, as well as the father of his fiancé, Stephen Zarsky.

According to ABC Newsthe charges relate to a scheme to get insider information about a biotechnology company based in Sydney, Australia. Innate Immunotherapeutics Limited developed a drug intended to treat Secondary Progressive Multiple Sclerosis. The indictment alleges that the defendants tried to get early word on the results of a test by the company.

Collins has denied any wrongdoing.

Read the full story at CNBC