House Ethics Watchdog: 'Substantial Reason To Believe' Collins Broke Law

Share
House Ethics Watchdog: 'Substantial Reason To Believe' Collins Broke Law

Republican Rep. Chris Collins of NY was the largest shareholder of Australia's Innate Immunotherapeutics and was on the company's board of directors. By doing that, Collins may have violated the federal Stop Trading on Congressional Knowledge (STOCK) Act, a law barring insider trading among members of Congress, as well as House ethics guidelines.

But the Office of Congressional Ethics - which does preliminary investigations and makes its recommendations to the Ethics Committee, which has the power to punish lawmakers - urged the committee to keep investigating.

Collins, who is Innate's largest shareholder, denied any wrongdoing.

A statement from Collins's legal team said the review was "spurred by unfounded accusations that trace their origin to political opponents", pointing specifically to Rep. Louise Slaughter (D-N.Y.).

The report was published Thursday by the House Ethics Committee pursuant to House rules requiring its public release.

"It has never been more obvious that the term "Representative" is misapplied when it comes to Chris Collins, and the decision released today by the House Ethics Committee to continue its investigation of him reinforces that", said Judith Hunter, the Livingston County Democratic Chair.

"He put his obsession to enrich himself before the people he swore to represent".

Ethics rules in Congress are too lax, and since the Legislative Branch has proven that it can't be counted on to regulate itself, the public must demand all inside traders regardless of party be investigated. The meeting between Innate and the NIH, they added, was routine and in line with the agency's mission of supporting medical research and communicating health sciences information.

Advocacy groups say Collins sponsored legislation that could potentially benefit the company.

OCE identified multiple instances in which Collins provided updates to US investors regarding clinical trials and a private placement offering. Dems plead for nursing home residents' right to sue Senate confirms No. 2 spot at HHS, days after Price resigns MORE, according to the OCE report.

"Former Secretary Tom Price, who refused to cooperate with this investigation, was involved in this scandal and was eventually forced to sell the same stocks in question due to conflicts of interest".

The second allegation against Collins concerns discussions with NIH employees in 2013. The official then invited Collins for a visit.

In interviews with OCE, Collins "stated that he went to NIH as a private citizen and that his visit had no relation to any official duties" but also described it as akin to a "high school field trip", the report said. In that meeting, Collins is alleged to have asked with help in designing Innate Immuno's drug trial.

This story was updated at 3:09 p.m.

Share

Advertisement

Related Posts

Unbiased Equity Research: Sally Beauty Holdings, Inc. (SBH), Navient Corporation (NAVI)
Of those analysts, 3 rate stock as a Strong Buy, 8 rate it as Hold, and just no analyst rates it as a Moderate Sell. The difference between the expected and actual EPS was $0.03/share, which represents an Earnings surprise of 6.1%.

LSU Police arrest 10 in investigation of Roswell teen Maxwell Gruver's death
Police also obtained a warrant to examine Gruver's phone so they could see who he called or texted before his death. John Bel Edwards asked the state's higher-education leaders to review campus policies on hazing, alcohol and drugs.

Porsche Passport Is How You Drive a Sportscar Without Owning One
The 911 was distinguished with the "Highest Ranked Appeal" award in the "Midsize Premium Sporty Car" category. That's because the said fees also cover the insurance and taxes, as well as the maintenance.

GM to shut Detroit factory for 5 weeks to control inventory
The automaker announced last month that it would cut the third shift at its plant in Spring Hill, Tennessee, as of late November. GM and its peers have been cutting production at auto plants as consumers have rapidly shifted to buying sport utility vehicles.

Kourtney Kardashian Flaunts Tiny Baby Bump Following Pregnancy News
And now that she is ready to move forward with God's plan, it would appear she's found the ideal partner in 24-year-old Younes . Recently, Kourtney Kardashian opened up about possibly having another child .

Manulife Financial Corp.'s (MFC) Outperform Rating Reaffirmed at BMO Capital Markets
Over a month, it has seen its stock price volatility to stay at 2.81% while shortening the period to a week, volatility was 2.18%. The stock of Calpine Corporation (NYSE:CPN) earned "Neutral" rating by Suntrust Robinson on Wednesday, August 24.

Trending Stock: Advanced Micro Devices, Inc. (AMD)
Finally, Bluestein R H & Co. purchased a new stake in Advanced Micro Devices during the first quarter valued at about $146,000. Also, SVP James Robert Anderson sold 20,000 shares of the company's stock in a transaction that occurred on Friday, July 28th.

Express Scripts Holding Company (ESRX) Shares Bought by Balyasny Asset Management LLC
Equities analysts anticipate that Express Scripts Holding Company will post $6.99 earnings per share for the current fiscal year. The firm has "Buy" rating given on Wednesday, December 9 by Stifel Nicolaus. (NASDAQ:ECHO) rating on Thursday, September 28.

Mom loses primary custody after refusing to vaccinate son
In the intervening time, Bredow had physical custody, while Horne took charge of the boy on alternate weekends. Judge Karen McDonald interrupted her plea in court saying that Bredow wasn't telling the entire truth.

Gasly will miss US GP to fight for Super Formula title
Gasly was only guaranteed to take part in the Malaysian and Japanese rounds of the Formula 1 world championship, but he now looks to be the clear favorite to race in 2018.

© 2015 ExpressNewsline. All Rights reserved.