Rep. Chris Collins Sentenced to 26 Months for Insider Trading From White House Lawn

Former U.S. Representative Chris Collins (R-NY) was sentenced to 26 months in federal prison, one year of supervised release, and a $200,000 fine by Judge Vernon S. Broderick for insider trading and making false statements to the FBI. Collins, who was the first member of Congress to endorse Donald Trump in the 2016 presidential race, committed securities fraud by tipping his son Cameron to confidential information about a failed drug trial while attending the Congressional Picnic at the White House on June 22, 2017.

Collins, who served on the board of Australian pharmaceutical company Innate Immunotherapeutics, learned that the company’s multiple sclerosis drug MIS416 had failed critical clinical trials. He immediately called his son Cameron from the White House lawn to share the confidential information. Cameron sold roughly 1.4 million shares before the public announcement, avoiding approximately $570,900 in losses. The tip extended to at least six individuals who collectively avoided over $768,000 in losses before the stock price crashed 92% following the June 26 public announcement.

In April 2018, Collins lied to FBI agents about his conduct during interviews. The sentence was less than the nearly five years recommended by prosecutors. Collins began serving his sentence in October 2020 at Federal Prison Camp, Pensacola, but served only two months before President Trump pardoned him on December 22, 2020. The U.S. Attorney’s office emphasized that Collins’ actions demonstrated “no lawmaker is above the law”—though Trump’s pardon proved otherwise, exemplifying the culture of impunity for corrupt Trump allies.