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Corruption Reigns Its Ugly Head As Another Republican Resigns

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Chris Collins, a Republican U.S. congressman from New York state

Another one has had to bite-the-dust in the Republican Party as Trump’s leadership is seen to be hitting rock bottom. Chris Collins, a Republican U.S. congressman from New York state has reportedly resigned, ahead of his expected guilty plea in a criminal insider trading case.

Earlier the Republican President of United States, Donald Trump was already under an Impeachment row with the Democrats after he was accused of employing pressure tactics to influence the Ukrainian PM to open investigations of the Democratic hopeful Joe Biden.

Collins along with his son and one more accomplice named Stephen Zarsky was supposed to appear in the Manhattan Federal  Court, on the day he put in his papers, which were received by US House of Representative Nancy Pelosi.

Chris Collins held a 16.8 percent stake with an Australian biotechnology company Innate Immunotherapeutics Ltd, a company for which he also sat on the board.  In June 2017, while attending the congressional picnic at the White House, Collins learned in an email from Innate’s chief executive that a clinical trial for its proposed multiple sclerosis drug MIS416 had failed.

He was later accused of withholding this information sensitive to community benefit.  He went under congressional ethic probe and remained under the scrutiny of being ‘virtually precluded’ by the firm.

 Further, while he confided in his son, who later divulged this information to his fiancé and her parents, Dorothy and Stephen Zarsky. Excluding Chris, everyone else in the know of this information made use of inside means to save losses worth $768,000 when Innate’s share price plunged 92% after news of the drug’s failure became public.

Chris Collins is known to have been an early supporter of Donald Trump. He represents New York’s 27th Congressional District that includes areas surrounding Buffalo and Rochester. He won reelection last November, three months after he was criminally charged.

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