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'''Christopher Carl Collins''' (born May 20, 1950) is a former American politician and businessman who served as the U.S. Representative for New York's 27th congressional district from 2013 to 2019. | '''Christopher Carl Collins''' (born May 20, 1950) is a former American politician and businessman who served as the U.S. Representative for New York's 27th congressional district from 2013 to 2019. He was the first sitting member of Congress to endorse Donald Trump's 2016 presidential campaign and later served on Trump's presidential transition team. In October 2019, Collins pleaded guilty to conspiracy to commit [[Securities Fraud|securities fraud]] and making false statements to the FBI. The charges stemmed from an insider trading scheme involving Innate Immunotherapeutics, an Australian biotechnology company. He received a 26-month sentence but served only about two months before President Trump granted him a full [[Presidential Clemency and Pardons|presidential pardon]] on December 22, 2020.<ref name="wgrz">WGRZ, "Former Congressman Chris Collins pardoned by President Trump and released from prison," December 2020, https://www.wgrz.com/article/news/local/former-congressman-chris-collins-pardoned-by-president-trump/71-b26d4391-fff3-4c33-b9cf-3bd1ae3aa642</ref> | ||
== Summary == | == Summary == | ||
Chris Collins built a career in business and politics before his election to Congress | Chris Collins built a successful career in business and politics before his 2012 election to Congress. He'd previously served as Erie County Executive from 2007 to 2011 and had deep roots in manufacturing and engineering. In Congress, he became an early vocal supporter of Donald Trump, backing him in February 2016 when most Republican establishment figures remained skeptical of Trump's candidacy. | ||
Everything changed at a White House congressional picnic on June 22, 2017. Collins received an email from Innate Immunotherapeutics' CEO with bad news: the company's experimental drug for multiple sclerosis had failed clinical trials. Collins, who sat on the board and owned substantial shares, immediately called his son Cameron to warn him. Cameron and others then sold their stock before the information went public, avoiding roughly $768,000 in losses when the price dropped 90%. | |||
After initially | After initially insisting on his innocence and even running for reelection while under indictment, Collins changed course. He resigned from Congress and pleaded guilty on October 1, 2019. The pardon came in December 2020, as part of Trump's final wave of clemency grants to political allies. | ||
== Background == | == Background == | ||
| Line 25: | Line 25: | ||
=== Early Life and Education === | === Early Life and Education === | ||
Christopher Carl Collins was born | Christopher Carl Collins was born May 20, 1950, in Schenectady, New York. He earned a bachelor's degree in mechanical engineering from North Carolina State University and later got his MBA from the University of Alabama at Birmingham. | ||
=== Business Career === | === Business Career === | ||
Collins had | Before entering politics, Collins had built considerable wealth through various manufacturing and engineering ventures. He worked across multiple companies in those sectors and became a major investor in Innate Immunotherapeutics. The Australian biotech firm focused on treatments for multiple sclerosis, and Collins served on its board of directors. | ||
=== Political Career === | === Political Career === | ||
Collins served as | Collins served as Erie County Executive from 2007 to 2011. His election to the U.S. House of Representatives in 2012 represented a shift toward higher office. He won reelection in 2014 and 2016, representing New York's 27th congressional district. | ||
On February 24, 2016, Collins became the first sitting member of Congress to endorse Donald Trump for president | On February 24, 2016, Collins became the first sitting member of Congress to endorse Donald Trump for president. That move gave Trump's campaign real credibility within the Republican establishment.<ref name="buffalo-endorsement">Buffalo News, "Collins pardoned: A look at the Chris Collins insider trading scandal," December 2020, https://buffalonews.com/news/collins-pardoned-a-look-at-the-chris-collins-insider-trading-scandal/collection_68fdb624-44ba-11eb-863e-6382c3008f19.html</ref> He went on to join Trump's presidential transition team. | ||
== The Insider Trading Scheme == | == The Insider Trading Scheme == | ||
| Line 41: | Line 41: | ||
=== The Congressional Picnic === | === The Congressional Picnic === | ||
June 22, 2017. A White House congressional picnic. Collins was there when everything unraveled. | |||
He received an email from Innate Immunotherapeutics' CEO with news that would devastate the stock price: their experimental multiple sclerosis drug had failed clinical trials. As a board member and major shareholder, Collins grasped the implications immediately. Once this went public, the stock would collapse. | |||
Prosecutors presented surveillance footage showing Collins stepping away from the picnic to make phone calls right after reading that email. He tried calling his son Cameron repeatedly to pass along the nonpublic information.<ref name="biospace">BioSpace, "Trump Pardons Former Congressman Convicted of Insider Trading of Pharma Stock," December 2020, https://www.biospace.com/trump-pardons-ally-chris-collins-the-former-congressman-convicted-of-insider-trading</ref> | |||
=== The Stock Sales === | === The Stock Sales === | ||
Cameron Collins got the warning and moved fast. Over the next two days, he and others sold their shares of Innate Immunotherapeutics stock. His fiancée Lauren Zarsky dumped her holdings. So did her father, Stephen Zarsky. | |||
On June 26, 2017, the failed drug trial became public. The stock price tanked roughly 90%. Cameron and the others had already escaped, dodging over $768,000 in losses. Chris Collins couldn't sell without triggering obvious suspicion given his board position, so he took the full hit on his shares. | |||
== Arrest and Prosecution == | == Arrest and Prosecution == | ||
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=== Indictment === | === Indictment === | ||
The FBI arrested Chris Collins and his son Cameron on August 8, 2018. They faced insider trading charges and counts of making false statements. Stephen Zarsky got charged too. | |||
Collins refused to resign despite the indictment. He kept his reelection campaign going. In November 2018, he won reelection, though his margin dropped significantly compared to earlier races. | |||
=== Guilty Plea === | === Guilty Plea === | ||
On September 30, 2019, Collins announced | On September 30, 2019, Collins announced he'd resign from Congress effective the next day. That same afternoon, he appeared in federal court and pleaded guilty to conspiracy to commit securities fraud and making a false statement to a federal agent.<ref name="wgrz" /> | ||
Cameron | Cameron pleaded guilty to conspiracy to commit securities fraud and making false statements to FBI agents. Zarsky followed suit. | ||
=== Sentencing === | === Sentencing === | ||
U.S. District Judge Vernon S. Broderick sentenced Chris Collins to 26 months in federal prison on January 17, 2020. He also had to pay a $200,000 fine. Cameron received a 5-month sentence. | |||
Collins reported to [[FPC_Pensacola_(minimum-security)|Federal Prison Camp Pensacola]] on October 13, 2020, to | Collins reported to [[FPC_Pensacola_(minimum-security)|Federal Prison Camp Pensacola]] on October 13, 2020, to start his time. | ||
== Presidential Pardon == | == Presidential Pardon == | ||
December 22, 2020. President Donald Trump granted Chris Collins a full pardon. Collins had served roughly two months of his 26-month sentence by that point.<ref name="spectrum">Spectrum News, "President Trump Grants Full Pardon to Chris Collins," December 2020, https://spectrumlocalnews.com/nys/central-ny/news/2020/12/23/president-trump-grants-full-pardon-to-former-rep--chris-collins</ref> | |||
The White House statement | The White House statement read: "Today, President Trump granted a full pardon to Chris Collins, at the request of many Members of Congress." No further explanation followed. | ||
The Collins pardon | The Collins pardon came as part of 15 announced that day. Duncan Hunter of California and Steve Stockman of Texas, both former congressmen convicted of federal crimes, also got clemency from Trump in the same batch. | ||
=== Reactions === | === Reactions === | ||
Democrats and ethics advocates criticized the pardon hard. They pointed out Collins' early backing of Trump and argued the move rewarded political loyalty at the expense of justice. The decision, they said, undermined accountability in the criminal system. | |||
=== Post-Pardon Life === | === Post-Pardon Life === | ||
Collins returned to his Western New York home after the pardon. In interviews since, he's expressed gratitude and described prison as a humbling experience. He's suggested interest in potentially returning to public life.<ref name="wapo">Washington Post, "Can Chris Collins show Donald Trump the way?," January 2024, https://www.washingtonpost.com/style/power/2024/01/18/chris-collins-profile-trump-pardon/</ref> | |||
== Frequently Asked Questions == | == Frequently Asked Questions == | ||
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{{FAQ | {{FAQ | ||
|question = What did Chris Collins do? | |question = What did Chris Collins do? | ||
|answer = | |answer = Collins was convicted of [[Securities Fraud|insider trading]] and making false statements to the FBI. At a White House congressional picnic on June 22, 2017, he received an email about Innate Immunotherapeutics' failed drug trial. He immediately called his son Cameron to warn him to sell before the news broke. Cameron and others sold their shares, avoiding significant losses when the stock dropped 90%. Collins pleaded guilty in October 2019 and got a 26-month sentence.<ref name="buffalo-endorsement" /> | ||
}} | }} | ||
{{FAQ | {{FAQ | ||
|question = Was Chris Collins pardoned? | |question = Was Chris Collins pardoned? | ||
|answer = Yes. | |answer = Yes. President Trump granted Collins a full [[Presidential Clemency and Pardons|presidential pardon]] on December 22, 2020. He'd served about two months of his 26-month sentence at FPC Pensacola when the pardon came through. The White House stated it came "at the request of many Members of Congress." Collins was the first sitting congressman to endorse Trump's 2016 presidential campaign.<ref name="wgrz" /> | ||
}} | }} | ||
{{FAQ | {{FAQ | ||
|question = How long was Chris Collins' prison sentence? | |question = How long was Chris Collins' prison sentence? | ||
|answer = Collins | |answer = Collins received a 26-month sentence on January 17, 2020. He started serving it at Federal Prison Camp Pensacola on October 13, 2020. Only two months into his sentence, President Trump pardoned him on December 22, 2020.<ref name="spectrum" /> | ||
}} | }} | ||
{{FAQ | {{FAQ | ||
|question = Who else was convicted in the Chris Collins case? | |question = Who else was convicted in the Chris Collins case? | ||
|answer = | |answer = His son Cameron Collins and Stephen Zarsky both pleaded guilty. Cameron faced conspiracy to commit securities fraud and making false statements charges, receiving a 5-month sentence. Zarsky also pleaded guilty. These family members sold their Innate Immunotherapeutics shares after Cameron got the tip about the failed drug trial, before the stock price collapsed.<ref name="biospace" /> | ||
}} | }} | ||
{{FAQ | {{FAQ | ||
|question = What was Chris Collins' political career? | |question = What was Chris Collins' political career? | ||
|answer = Collins served as U.S. Representative for New York's 27th Congressional District from 2013 to 2019. | |answer = Collins served as U.S. Representative for New York's 27th Congressional District from 2013 to 2019. Before that, he was Erie County Executive from 2007 to 2011. He was the first sitting member of Congress to endorse Donald Trump for president in 2016 and served on Trump's transition team. He resigned from Congress on September 30, 2019, the same day he pleaded guilty.<ref name="buffalo-endorsement" /> | ||
}} | }} | ||
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{{MetaDescription|Chris Collins, former NY congressman and first to endorse Trump, was convicted of insider trading in 2019 and pardoned by President Trump in December 2020.}} | {{MetaDescription|Chris Collins, former NY congressman and first to endorse Trump, was convicted of insider trading in 2019 and pardoned by President Trump in December 2020.}} | ||
Latest revision as of 17:14, 23 April 2026
| Christopher Carl Collins | |
|---|---|
| Born: | May 20, 1950 Schenectady, New York |
| Charges: | Conspiracy to commit securities fraud, Making false statements to the FBI |
| Sentence: | 26 months |
| Facility: | FPC Pensacola |
| Status: | Pardoned |
Christopher Carl Collins (born May 20, 1950) is a former American politician and businessman who served as the U.S. Representative for New York's 27th congressional district from 2013 to 2019. He was the first sitting member of Congress to endorse Donald Trump's 2016 presidential campaign and later served on Trump's presidential transition team. In October 2019, Collins pleaded guilty to conspiracy to commit securities fraud and making false statements to the FBI. The charges stemmed from an insider trading scheme involving Innate Immunotherapeutics, an Australian biotechnology company. He received a 26-month sentence but served only about two months before President Trump granted him a full presidential pardon on December 22, 2020.[1]
Summary
Chris Collins built a successful career in business and politics before his 2012 election to Congress. He'd previously served as Erie County Executive from 2007 to 2011 and had deep roots in manufacturing and engineering. In Congress, he became an early vocal supporter of Donald Trump, backing him in February 2016 when most Republican establishment figures remained skeptical of Trump's candidacy.
Everything changed at a White House congressional picnic on June 22, 2017. Collins received an email from Innate Immunotherapeutics' CEO with bad news: the company's experimental drug for multiple sclerosis had failed clinical trials. Collins, who sat on the board and owned substantial shares, immediately called his son Cameron to warn him. Cameron and others then sold their stock before the information went public, avoiding roughly $768,000 in losses when the price dropped 90%.
After initially insisting on his innocence and even running for reelection while under indictment, Collins changed course. He resigned from Congress and pleaded guilty on October 1, 2019. The pardon came in December 2020, as part of Trump's final wave of clemency grants to political allies.
Background
Early Life and Education
Christopher Carl Collins was born May 20, 1950, in Schenectady, New York. He earned a bachelor's degree in mechanical engineering from North Carolina State University and later got his MBA from the University of Alabama at Birmingham.
Business Career
Before entering politics, Collins had built considerable wealth through various manufacturing and engineering ventures. He worked across multiple companies in those sectors and became a major investor in Innate Immunotherapeutics. The Australian biotech firm focused on treatments for multiple sclerosis, and Collins served on its board of directors.
Political Career
Collins served as Erie County Executive from 2007 to 2011. His election to the U.S. House of Representatives in 2012 represented a shift toward higher office. He won reelection in 2014 and 2016, representing New York's 27th congressional district.
On February 24, 2016, Collins became the first sitting member of Congress to endorse Donald Trump for president. That move gave Trump's campaign real credibility within the Republican establishment.[2] He went on to join Trump's presidential transition team.
The Insider Trading Scheme
The Congressional Picnic
June 22, 2017. A White House congressional picnic. Collins was there when everything unraveled.
He received an email from Innate Immunotherapeutics' CEO with news that would devastate the stock price: their experimental multiple sclerosis drug had failed clinical trials. As a board member and major shareholder, Collins grasped the implications immediately. Once this went public, the stock would collapse.
Prosecutors presented surveillance footage showing Collins stepping away from the picnic to make phone calls right after reading that email. He tried calling his son Cameron repeatedly to pass along the nonpublic information.[3]
The Stock Sales
Cameron Collins got the warning and moved fast. Over the next two days, he and others sold their shares of Innate Immunotherapeutics stock. His fiancée Lauren Zarsky dumped her holdings. So did her father, Stephen Zarsky.
On June 26, 2017, the failed drug trial became public. The stock price tanked roughly 90%. Cameron and the others had already escaped, dodging over $768,000 in losses. Chris Collins couldn't sell without triggering obvious suspicion given his board position, so he took the full hit on his shares.
Arrest and Prosecution
Indictment
The FBI arrested Chris Collins and his son Cameron on August 8, 2018. They faced insider trading charges and counts of making false statements. Stephen Zarsky got charged too.
Collins refused to resign despite the indictment. He kept his reelection campaign going. In November 2018, he won reelection, though his margin dropped significantly compared to earlier races.
Guilty Plea
On September 30, 2019, Collins announced he'd resign from Congress effective the next day. That same afternoon, he appeared in federal court and pleaded guilty to conspiracy to commit securities fraud and making a false statement to a federal agent.[1]
Cameron pleaded guilty to conspiracy to commit securities fraud and making false statements to FBI agents. Zarsky followed suit.
Sentencing
U.S. District Judge Vernon S. Broderick sentenced Chris Collins to 26 months in federal prison on January 17, 2020. He also had to pay a $200,000 fine. Cameron received a 5-month sentence.
Collins reported to Federal Prison Camp Pensacola on October 13, 2020, to start his time.
Presidential Pardon
December 22, 2020. President Donald Trump granted Chris Collins a full pardon. Collins had served roughly two months of his 26-month sentence by that point.[4]
The White House statement read: "Today, President Trump granted a full pardon to Chris Collins, at the request of many Members of Congress." No further explanation followed.
The Collins pardon came as part of 15 announced that day. Duncan Hunter of California and Steve Stockman of Texas, both former congressmen convicted of federal crimes, also got clemency from Trump in the same batch.
Reactions
Democrats and ethics advocates criticized the pardon hard. They pointed out Collins' early backing of Trump and argued the move rewarded political loyalty at the expense of justice. The decision, they said, undermined accountability in the criminal system.
Post-Pardon Life
Collins returned to his Western New York home after the pardon. In interviews since, he's expressed gratitude and described prison as a humbling experience. He's suggested interest in potentially returning to public life.[5]
Frequently Asked Questions
Q: What did Chris Collins do?
Collins was convicted of insider trading and making false statements to the FBI. At a White House congressional picnic on June 22, 2017, he received an email about Innate Immunotherapeutics' failed drug trial. He immediately called his son Cameron to warn him to sell before the news broke. Cameron and others sold their shares, avoiding significant losses when the stock dropped 90%. Collins pleaded guilty in October 2019 and got a 26-month sentence.[2]
Q: Was Chris Collins pardoned?
Yes. President Trump granted Collins a full presidential pardon on December 22, 2020. He'd served about two months of his 26-month sentence at FPC Pensacola when the pardon came through. The White House stated it came "at the request of many Members of Congress." Collins was the first sitting congressman to endorse Trump's 2016 presidential campaign.[1]
Q: How long was Chris Collins' prison sentence?
Collins received a 26-month sentence on January 17, 2020. He started serving it at Federal Prison Camp Pensacola on October 13, 2020. Only two months into his sentence, President Trump pardoned him on December 22, 2020.[4]
Q: Who else was convicted in the Chris Collins case?
His son Cameron Collins and Stephen Zarsky both pleaded guilty. Cameron faced conspiracy to commit securities fraud and making false statements charges, receiving a 5-month sentence. Zarsky also pleaded guilty. These family members sold their Innate Immunotherapeutics shares after Cameron got the tip about the failed drug trial, before the stock price collapsed.[3]
Q: What was Chris Collins' political career?
Collins served as U.S. Representative for New York's 27th Congressional District from 2013 to 2019. Before that, he was Erie County Executive from 2007 to 2011. He was the first sitting member of Congress to endorse Donald Trump for president in 2016 and served on Trump's transition team. He resigned from Congress on September 30, 2019, the same day he pleaded guilty.[2]
See also
References
- ↑ 1.0 1.1 1.2 WGRZ, "Former Congressman Chris Collins pardoned by President Trump and released from prison," December 2020, https://www.wgrz.com/article/news/local/former-congressman-chris-collins-pardoned-by-president-trump/71-b26d4391-fff3-4c33-b9cf-3bd1ae3aa642
- ↑ 2.0 2.1 2.2 Buffalo News, "Collins pardoned: A look at the Chris Collins insider trading scandal," December 2020, https://buffalonews.com/news/collins-pardoned-a-look-at-the-chris-collins-insider-trading-scandal/collection_68fdb624-44ba-11eb-863e-6382c3008f19.html
- ↑ 3.0 3.1 BioSpace, "Trump Pardons Former Congressman Convicted of Insider Trading of Pharma Stock," December 2020, https://www.biospace.com/trump-pardons-ally-chris-collins-the-former-congressman-convicted-of-insider-trading
- ↑ 4.0 4.1 Spectrum News, "President Trump Grants Full Pardon to Chris Collins," December 2020, https://spectrumlocalnews.com/nys/central-ny/news/2020/12/23/president-trump-grants-full-pardon-to-former-rep--chris-collins
- ↑ Washington Post, "Can Chris Collins show Donald Trump the way?," January 2024, https://www.washingtonpost.com/style/power/2024/01/18/chris-collins-profile-trump-pardon/