Crooks-R-Us - GOP rep. Chris Collins arrested

[AmazonGrace]

MAGA: More are getting arrested

 

https://www.cnbc.com/2018/08/08/gop-congressman-chris-collins-to-be-indicted-on-insider-trading-charge.html

New York GOP Rep. Chris Collins arrested over insider trading charge

Rep. Chris Collins, R-N.Y., has been arrested on insider trading charges lodged by the Justice Department, law enforcement officials said Wednesday morning.

The indictment obtained from a federal grand jury also charges Collins' son, Cameron Collins, as well as the father of his fiancee, Stephen Zarsky.

The indictment relates to "securities of Innate Immunotherapeutics ... an Australian biotechnology company on whose board of directors Christopher Collins served," the DOJ said.

The defendants are accused of multiple counts of securities fraud, as well as one count of wire fraud, one count of conspiracy to commit wire fraud and one count each of making false statements.

The GOP congressman reportedly surrendered at a law enforcement building in Manhattan on Wednesday morning. He is expected to appear in federal court in lower Manhattan later today.

[AmazonGrace]

Here is Nate McMurray who is running against Chris Collins in NY

 

[GreyhoundFan]

A good analysis: "5 key parts of the Rep. Chris Collins insider-trading indictment"

Spoiler

Rep. Chris Collins (R-N.Y.) was indicted Wednesday on insider-trading charges, stemming from his position on the board of directors of a drug company whose signature drug suffered a surprising failed trial. Collins lost millions on the deal, but according to federal prosecutors, he tipped off others so they could avoid losing money.

The case involves Innate Immunotherapeutics, an Australian biotech company that was testing the drug MIS416 for treatment of multiple sclerosis. Basically, prosecutors allege that Collins passed along nonpublic information about the trial, and Collins’s son, Cameron Collins, and others unloaded millions of shares of stock before that news became public.

Several other GOP members of Congress also invested in the drug; none are accused of any wrongdoing.

Below are the most interesting parts of the indictment and also the newly released complaint from the Securities and Exchange Commission (SEC), which offers even more detail:

1. There are two other defendants and at least six unindicted co-conspirators

Collins was indicted alongside his son, Cameron, and a third person, Stephen Zarsky, who is the father of Cameron Collins’s fiancee. That fiancee is also among six alleged co-conspirators who are not named or charged in the indictment, perhaps owing to their cooperation. All of them allegedly benefited from the insider trading.

Others not named include members of Zarsky’s family:

At all times relevant to this Indictment, CAMERON COLLINS was in a relationship with (and subsequently became engaged to be married to) a co-conspirator not named as a defendant herein (“CC-1”).

...

At all times relevant to this Indictment, STEPHEN ZARSKY, the defendant, was the father of CC-1. He was also married to another co-conspirator not named as a defendant herein (“CC-2”) and was the brother of two co-conspirators not named as defendants herein (“CC-3” and “CC-4”). In addition, ZARSKY was longstanding friends with a Florida-based financial advisor, a co-conspirator not named as a defendant herein (“CC-5”).

The last unindicted co-conspirator (“CC-6”) was a friend of Cameron Collins and his fiancee.

2. The co-conspirators allegedly saved themselves $768,000, but Collins lost far more than that

Adding insult to injury for Collins: He doesn’t even appear to have saved himself. Reports at the time about the failed trial indicated that he lost about $16.7 million after the firm’s stock price fell 92 percent. Because he was serving on the board of directors, he was prevented from being able to unload his own stock.

And that amount far exceeds the sum that Cameron Collins, Zarsky and the six co-conspirators allegedly saved, which is $768,000 in total:

In total, these trades allowed CHRISTOPHER COLLINS, CAMERON COLLINS, and STEPHEN ZARSKY, the defendants, and CC-1 through CC-6 to avoid over $768,000 in losses that they would have otherwise incurred if they had sold their stock in Innate after the Drug Trial results became public.

3. Collins is also accused of lying to investigators

The charges against Collins stem from when investigators first asked him if he tipped off his son:

On or about April 25, 2018, CHRISTOPHER COLLINS, the defendant, was interviewed by a Special Agent from the Federal Bureau of Investigation. During this interview, CHRISTOPHER COLLINS stated, in substance and in part, that he did not tell CAMERON COLLINS, the defendant, the Drug Trial results before the Public Announcement.

Collins was informed by Innate’s CEO about the failed drug test the evening of June 22, 2017, via email, while Collins was at a White House event. The SEC complaint states that Chris Collins called Cameron Collins for the first time just 15 seconds after sending the email.

The two played phone tag for a few minutes. Ultimately, they spoke for about six minutes, at which point Chris Collins allegedly told his son about the failed trial.

4. The alleged scheme wasn’t exactly well-hidden

The markets were already closed that evening, and Cameron Collins allegedly began unloading his stock early the next morning, placing a series of trades to rid himself of nearly 1.4 million shares between June 23 and June 26, when the failed drug trial became public:

25. The U.S. OTC market was closed when CAMERON COLLINS, the defendant, learned the negative Drug Trial results from CHRISTOPHER COLLINS, the defendant, on or about the night of June 22, 2017. The following morning, at approximately 7:42 AM, CAMERON COLLINS placed an online order with his brokerage firm, to sell approximately 16,508 shares of Innate on the U.S. OTC market. This order was executed at approximately 9:30 AM, when the U.S. OTC market opened. 

26. Later that day, CAMERON COLLINS, the defendant, placed approximately 17 additional orders to sell Innate Stock. On or about June 26, 2017, the following Monday, CAMERON COLLINS placed approximately 36 additional orders to sell Innate stock. Many of the orders that CAMERON COLLINS placed on June 23, 2017, and June 26, 2017, moreover, occurred after additional discussion with CHRISTOPHER COLLINS, the defendant. Fer example, on Friday, June 23, 2017, at approximately 3:12 PM, CAMERON a 5:05 minute call to CHRISTOPHER COLLINS. While the two were still on the phone, CAMERON COLLINS placed an online order with his broker to sell approximately 50,000 shares of Innate. 

27. In total, CAMERON COLLINS, the defendant, sold approximately 1,391,500 shares of Innate stock between the morning of June 23, 2017 and the close of the market on June 26, 2017, when Innate publicly released the Drug Trial results. These sales allowed CAMERON COLLINS to avoid approximately $570,900 in losses.

The SEC complaint details Cameron Collins and others feverishly trying to unload the stock:

38. At the time of the phone call with his father, Cameron Collins was with his girlfriend at the home they shared. Approximately fifteen minutes after this call ended, his girlfriend logged into the brokerage account in which she held the Innate shares she had bought two days before.

39. Approximately 90 minutes after Cameron Collins spoke to Christopher Collins, Cameron Collins and his girlfriend left their home and drove to the home of her parents. They arrived at approximately 9:17 PM ET.

40. Approximately five minutes after arriving at his girlfriend’s parents’ house, Cameron Collins logged into his brokerage account. A few minutes later, at approximately 9:28 PM ET, his girlfriend’s mother logged into her brokerage account and unsuccessfully attempted to place an order to sell all of her Innate shares.

41. At 9:34 PM ET, Cameron Collins’s girlfriend’s mother called the brokerage firm, and representatives guided her through the process of selling her shares on the ASX. At 9:58 PM ET, while still on the phone with a brokerage firm representative, she placed an online order to sell all of her 50,000 shares of Innate. 30,250 of her shares sold on the ASX between 9:58 and 10:04 PM ET.

The proximity of these phone calls to major actions in the case are pretty striking — and undoubtedly will make the Collinses' defense more difficult.

5. Collins allegedly told people it was a slam dunk

In text messages detailed in the SEC complaint, Cameron Collins’s then-girlfriend discusses Chris Collins’s salesmanship of the stock and suggests the congressman would tip them off if anything went wrong:

The year before, Cameron Collins’s girlfriend’s parents also invested in Innate after she told her mother by text message in August 2016, “I think we all need to consider investing in innate therapeutics. I might put in $15k and that has a greater than 50% chance of going up to $250k…….that is actually unheard of and cams dad almost guarantees it within the next 1 to 2 years. . . .” The next day she added, “And we’ll always keep in touch with cams dad who I’m guessing would know how things are looking as we get closer to the end of the trial.” A few days later, she told her mother, “I’ll make sure cams dad keeps us in the loop.”

It’s not clear whether Chris Collins actually promised to provide such insider information at this point.

 

[onekidanddone]

Next stop head of the security and exchange commission 

[AmazonGrace]

 

[AmazonGrace]

 

[fraurosena]

Question: What happens to Collin's seat in the House now he's been arrested?

[AmazonGrace]

He's still running

[AmazonGrace]

 

[onekidanddone]

41 minutes ago, AmazonGrace said:

He's still running

And the TDS will vote for him while orange shit stain will campaign for him claiming FAKE NEWS.

[AmazonGrace]

 

[AmazonGrace]

I'm sure it's just a coincidence 

 

[onekidanddone]

14 minutes ago, AmazonGrace said:

I'm sure it's just a coincidence 

 

Nothing to see here. Move along move along, Nothing to see. 

NFL, Hillary Clinton, Begazi! Obama birth certificate.  

Nothing to see. HOAX 

[47of74]

Guess Collins (R-Crook) decided not to run again

Quote

Rep. Chris Collins (R-N.Y.), who was charged this week as part of an insider trading scheme, is suspending his re-election campaign and will attempt to remove his name from the ballot.

The third-term congressman announced the decision Saturday morning on Twitter, just days after he vowed to clear his name and remain on the ballot.

Collins is facing multiple counts of securities fraud, as well as charges of wire fraud and lying to investigators. His son and another associate were charged in the scheme as well.

Federal prosecutors allege Collins — who sits on the board of an Australian pharmaceutical company — shared non-public details about the failure of a multiple sclerosis drug in clinical trials. Using that information, Collins’ family members were able to sell off shares and avoid more than $760,000 in losses, prosecutors say.

 

[Cartmann99]

Well, looks like Carl Paladino is excited about this news:

For those who need a refresher on Carl, he was asked the following questions back in December of 2016:

Quote

1. What would you most like to happen in 2017?

2. What would you like to see go away in 2017?

3. Who would you like to see run for mayor of Buffalo in next year’s election?

4. Should the new $50 million Amtrak station be at Central Terminal or Canal Side?

Carl replied:

Quote

1.  Obama catches mad cow disease after being caught having relations with a Herford.  He dies before his trial and is buried in a cow pasture next to Valerie Jarret, who died weeks prior, after being convicted of sedition and treason, when a Jihady cell mate mistook her for being a nice person and decapitated her.

2.  Michelle Obama.  I’d like her to return to being a male and let loose in the outback of Zimbabwe where she lives comfortably in a cave with Maxie, the gorilla.

3. Someone with a brain, a set of balls and a lack of fear who has enough money so as not to owe anyone anything once elected and who believes in a market economy.

4. We need a $50 million dollar train station as much as we need parasitic people like Lou Ciminelli, 80% of the school board and the dizziness of socialistic progressive politicians who never signed the front of a paycheck.  At best 400 people a day take a train.  They are not complaining about exchange or Depew.  We are already the laughingstock of America for having the dumbest elected leaders ever.  Why add to it.

https://artvoice.com/2016/12/23/want-2017-lot-different-opinions/#.W29rUHpOl0u

[47of74]

36 minutes ago, Cartmann99 said:

Well, looks like Carl Paladino is excited about this news:

For those who need a refresher on Carl, he was asked the following questions back in December of 2016:

Carl replied:

https://artvoice.com/2016/12/23/want-2017-lot-different-opinions/#.W29rUHpOl0u

Racist fuck.  While most of the people in that article you cited had decent, intelligent answers to the questions this fuckhead had these Hershey Squirts in response to the questions. 

[onekidanddone]

1 hour ago, Cartmann99 said:

Well, looks like Carl Paladino is excited about this news:

For those who need a refresher on Carl, he was asked the following questions back in December of 2016:

Carl replied:

https://artvoice.com/2016/12/23/want-2017-lot-different-opinions/#.W29rUHpOl0u

He seems nice 

[47of74]

3 hours ago, onekidanddone said:

He seems nice 

Oh, and I also noticed some of the other people in that same article were hoping he would go away in 2017.

 

[Cartmann99]

13 hours ago, 47of74 said:

Oh, and I also noticed some of the other people in that same article were hoping he would go away in 2017.

He's been a jackass for a long time. This is from 2010:

Quote

Republican New York gubernatorial candidate Carl Paladino reportedly sent e-mails to numerous associates that included images of bestiality and derogatory characterizations of President Obama, including one offering a video clip of African tribesmen dancing that characterized the video as "Obama Inauguration Rehearsal."

The e-mails were obtained by WNYMedia.net, and have been posted here. The site's managing director, Marc Odien, told the Buffalo News that he had verified that Palidino had sent many of the "racist and sexist" messages with multiple sources.

In a statement to TPM Muckraker, Paladino campaign manager Michael Caputo said the candidate had sent "off-color" and "politically incorrect" e-mails in the past.

"Carl Paladino has forwarded close friends hundreds of email messages he received," he said. "Many of these emails he received were off color, some were politically incorrect, few represented his own opinion, and almost none of them were worth remembering."

A Tea Party darling, Paladino reportedly sent an e-mail depicting a horse having sex with a woman and another that included a pornographic video and the headline "Miss France 2008 F[***]ing." He also reportedly sent out an e-mail depicting President Obama and First Lady Michelle Obama as a pimp and prostitute and one showing an airplane landing near black men with the caption "Holy Sh*t. run ni**ers, run!"

After one respondent complained that the "Obama Inauguration Rehearsal" e-mail was "flat-out racist," Paladino reportedly replied, "I apologize to you and everyone if that is offensive. to me its just humor. i'm not racist and have never related obamas color to my political distaste for him."

The Buffalo News reports that Paladino did not deny sending the e-mails at an event today. He called them "just another liberal Democrat blog smear."

https://www.cbsnews.com/news/carl-paladino-leaked-e-mails-called-racist-and-sexist/