NEW YORK (WKBW) — Former Congressman Chris Collins has been sentenced to 26 months in prison after pleading guilty to insider trading charges.
Collins appeared before United States District Judge Vernon Broderick in Manhattan Friday afternoon, he was sentenced to 26 months in prison concurrently on two different charges, one year supervised release and a $200,000 fine.
BREAKING: former congressman Chris Collins sentenced to a prison term of 26 months. He will serve one year supervised release & 200,000 fine. @WKBW
— Ed Drantch (@EdDrantch) January 17, 2020
Chris Collins's son, Cameron Collins, admitted to selling large amounts of stock in Innate Immunotherapeutics, Ltd., before relevant information about a clinical trial was made public. Chris Collins gave his son the information. Stephen Zarsky, the father of Cameron's fiancee, also pleaded guilty to insider trading charges.
In August 2019, three charges were dropped against Collins. Two charges against his son were also dropped.
Ahead of sentencing, letters were sent to the the federal judge, some urging leniency and others calling for the harshest penalty possible.
Judge Broderick also asked prosecutors and defense attorneys 26 questions, which likely assisted in his decision.
Collins represented New York's 27th Congressional District before resigning in September 2019. He currently resides in Florida.
The special election to replace Collins still has not been formally scheduled.
