Chris Collins, First U.S. Lawmaker To Endorse Trump, Gets 26-Month Prison Sentence
A judge on Friday sentenced former Rep. Chris Collins (R-N.Y.), an early and staunch ally of President Donald Trump, to 26 months in prison after he pleaded guilty last September to conspiracy to commit securities fraud.
Collins, the first member of Congress to endorse Trump’s 2016 presidential bid, used his position as the largest shareholder in the Australian biotechnology company Innate Immunotherapeutics to illegally give other stockholders an inside tip that a test of the company’s main product had failed.
“You were a member of the [company’s] board ― that has legal significance. You owed a duty to Innate and you betrayed that duty,” U.S. District Judge Vernon Broderick said during the sentencing, according to Matthew Russell Lee of InnerCityPress.com.
“It makes people believe the market is rigged,” Broderick added.
Federal prosecutors earlier this week urged a sentence of close to five years.
Collins cried as he spoke to the court shortly before his sentencing.
“I have no excuse. I tarnished my reputation,” he told the judge, as reported by The Washington Post.
“It’s hard to look at my wife ― she had her credit card canceled. My daughter had her brokerage account canceled. I apologize to the FBI for lying to them. I’ll be paying the consequence for that here momentarily,” Collins said.
Before the criminal investigation, Collins had used his Trump endorsement to raise his profile in Washington. He bragged about the clout he gained from his early backing of Trump, claiming it made him “significantly more visible.” And he was an early adopter of Trump’s bullying and blustering style, a copycat routine that has become popular throughout the GOP.
Collins, who represented a district that covers much of western New York, committed the crime that sent him to prison while he was visiting the White House for a June 22, 2017, congressional picnic. He received an email from the CEO of Innate Immuno announcing that the...
