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New York Congressman Arrested On Insider Trading Charges

Rep. Chris Collins was charged with securities fraud along with his son and another man. Collins is accused of passing inside stock information to his son, who used it to make favorable trades.
Rep. Chris Collins delivers a speech at the Republican National Convention in 2016 in Cleveland. Collins was the first sitting member of Congress to endorse Donald Trump's presidential bid. Source: Alex Wong

Updated at 12:55 p.m. ET

Rep. Chris Collins, R-N.Y., was arrested Wednesday on charges related to insider trading.

A federal grand jury accused the Buffalo-area lawmaker of passing nonpublic information about a biotech company to his son, who traded on the information and passed it along to others.

"Congressman Collins cheated our markets and our justice system," said Geoff Berman, the interim U.S. Attorney for

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