Chris Collins Innate Immunotherapeutics : Arrest for Insider Trading Sydney Company ASX IIL

Chris Collins Innate Immunotherapeutics : Arrest for Insider Trading Sydney Company ASX IIL

Chris Collins Arrest – US lawmaker arrested for insider trading ASX listed and Sydney based biotech company, Innate Immunotherapeutics. The company also has offices in North Melbourne.

Early Trump backer and campaign transition offical Chris Collins

Rep. Chris Collins, a Republican Congressman representing a district in New York State, has been arrested on insider trading charges related to a Sydney based company, ASX IIL – Innate Immunotherapeutics.

The US Congressman was also an early Donald Trump backer for US President and was a senior official on Trump’s staff during the transition period between Obama and Trump.

Collins was known spruker of Innate Immunotherapeutics ASX stock, with the biotech speculative stock generating high returns on the market before tanking price from $15.90 in January 2017, to just 30c as of trade the first week of August 2018.

Crash in ASX IIL stock in 2017

ASX ILL CRASHED From $16 in early 2017 to just 30cents today.

The arrested Congressman was said to have encouraged everyone he could to buy into the company, which had promised to target drugs to sufferers of Multiple Sclerosis.

The indictment, documents released in the US by officials, relates to “securities of Innate Immunotherapeutics … an Australian biotechnology company on whose board of directors Christopher Collins served,” the DOJ said.

A report in CBNC said the defendants, including Chris Collins family members, are accused of multiple counts of securities fraud, as well as one count of wire fraud, one count of conspiracy to commit wire fraud and one count each of making false statements.

Chris Collins Arrest

Rep. Chris Collins, his son Cameron and Stephen Zarsky, the father of Cameron Collins’s fiancée, have been charged with insider trading relating to securities of an Australian biotechnology company

Author: Sydney News Editor

The Sydney News Authors