GOP Lawmaker Got Served By The Feds!

Rep. Chris Collins (R-NY) is facing federal charges for insider trading and fraud.

This is embarrassing for the Republicans.

Echoes of 2006 are ringing again. The blue wave is a coming.

Lawmaker who became one of the first major endorsers of Donald J. Trump is got served by the feds.

Rep. Chris Collins (R-NY) has been indicted by the feds for insider trading. The upstate New York lawmaker, his son. Cameron Collins and his girlfriend's father Stephen Zarsky are being accused of using inside information on stock.

The feds caught Collins on camera on the phone talking to Cameron about dumping shares. Soon after, the younger dropped shares and he told his girlfriend's friend to do so. Then the shares dropped 93% and the company tanked.

Collins vows to win re-election and be cleared of the charges.

"I will mount a vigorous defense in court to clear my name. I look forward to being fully vindicated and exonerated, ending any and all questions relating to my affiliation with Innate."

Collins won't talk to the junk food media.

"My real concern lies with the millions of people suffering with secondary progressive [multiple sclerosis]. We firmly believe we were on the verge of a medical breakthrough."

Rep. Paul Ryan (R-WI), the outgoing House Speaker kicked Collins out of the House Energy and Commerce Committee. They said that he will not return to the chairmanship

With friends like these.

Federal prosecutors charged Collins with 13 counts of securities fraud and wire fraud. These charges could put each of these men in the federal time out for 30 years. The suspects are innocent until proven guilty in a court of law.

The indictment says that Collins shared non-public information about Innate Immunotherapeutics, an Australian-based pharmaceutical company that Collins had shares in. At one point, Collins owned over $45 million in stock.

The feds alleged that Collins and his accomplices were netting an estimated $800,000 in revenue.

Collins who represents the Buffalo metro area gave insider information to other members of the House. Former Health and Human Services Secretary then Georgia congressman Tom Price had allegedly had shares in the company as well.

Collins represents the 27th Congressional District of New York which includes suburban Buffalo, Niagara Falls, and Rochester.