Federal prosecutors in New York on Monday asked a judge to sentence former Rep. Christopher Collins, R-N.Y., to the highest of almost five decades in prison for his part in an insider trading strategy.
Collins, who had been the very first sitting member of Congress to support Donald Trump for president, pleaded guilty in to the fees in October. He had been accused of using nonpublic information stemming from his relationship with an Australian medical biotech company to assist his family make illegal stock transactions to prevent over $768,000 in reductions.
He resigned from Congress Right after the plea.
Prosecutors say he devised statements lied to federal agents when asked concerning the inventory earnings and insider advice he obtained while being on the board of Innate Pharmaceuticals.
They wrote from the Senate,” Collins is erroneous to argue that”society… will obtain no advantage” by incarcerating an extraordinarily sophisticated and powerful businessman and politician who twice made the decision, notwithstanding the lack of any substance desire, to commit a crime”
They stated that”in committing insider trading and afterward lying to federal agents to pay this up, and in continued to actively function in the House of Representatives during this period, Collins came to reevaluate the cynical notion that those in power that create the legislation aren’t needed to follow them”
Collins, through his lawyers, has argued for no prison time.