Page 52 - Inside Information News Today

Received that illegal inside information. he did two things. both of which are illegal. he sold stock based on that inside information. and avoided $570,000 in losses. and he also took that illegal inside information and tipped others. he tipped his fiancée. he tipped his fiancées wife, he tipped his fiancées father and a friend. all of that traded on that illegal inside information. stephen zarsky, his fiancées father avoided $143,000 in losses by trading on that information and he tipped o...

Confidential corporate information at the expense of regular investors. and then he lied about it to law enforcement to cover it up. also charged is his son. cameron collins. and stephen zarsky, the father of camerons fiancée. these charges are a reminder that this is a nation of laws. and that everybody stands equal before the bar of justice. now id like to go into the details of the allegations a little more. in addition to serving in the house of representatives, congressman collins was also...

The first chart is a tipping chain. it demonstrates the flow of the illegal insider information. and the trading. the illegal trading on that information. that is the top of the chain is congressman collins. he had an obligation as innate board member when he received confidential corporate information to keep that information secret until the company announced it to the public. in total disregard of that obligation, minutes after congressman collins received the devastating, highly confidential...

Multiple cler -- multiple sclerosis. in june of 2017, congressman collins was told confidential and highly sensitive information about innate. information that was not yet made public. namely, that innates main drug, the drug innate was developing to be the backbone of its company, was a total failure. this was devastating information for the company. congressman collins had an obligation, a legal duty, to keep that information secret until that information was released by the company to the pub...

Keep innates information secret. and when the news of the drugs failure became public, the stock plummeted. in total, the conspirators used that inside information to avoid $765 million in losses. but congressman collins couldnt keep his crime a secret forever. the f.b.i. asked to interview him. and instead of telling the truth, he lied. so did cameron collins. and so did stephen zarsky. by lying to the f.b.i., they compounded their insider trading crime with the crime of criminal cover-up. now ...

Member finds out and lets other people know so they could trade on the information. they will have to prove he called the son six times. what transpired in the conversation. i wonder if its enough just if the son traded on it next day. >> josh: it doesnt sound like a nexus to the congressional job as you pointed out but it doesnt make it any better. >> melissa: no, no. it doesnt make it -- no, just an interesting fact. normally you would make the point or i would make the point, nobody in congre...

Innate announces to the public that its drug had failed the trial. and the next day, the drug price, the price of innate falls off a cliff. it drops 92% in value in a single day. this was the drop that was anticipated by the coconspirators, this was the drop in value that the coconspirators avoided to sell the shares before the public announcement. they could only sell the shares by virtue of the initial tip of inside information by congressman collins. case and this type of significance obvious...

Information to his son so his son could trade it. cameron collins. when he received that illegal inside information, he did two things, both of which are illegal. he sold stock based on that inside information and avoided $570,000 in losses. and he also took that illegal inside information and tipped others. he tipped his fiance. he tipped his fiances wife. he tipped his fiances father. and he tipped a friend. all of whom traded on that illegal inside information. steven zarsky, his fiances fath...

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Cooperating witness here. it still remains to be seen who the witnesses are, what kind of evidence they have. its hard, ive been trying to study the indictment and figure it out a little bit. i think some of the people who are mentioned as ccs, co-conspirators, are likely cooperating with the government and will testify, which could add a whole nother wrinkle because they seem to be all family members. but in insider trading cases, what youll look for, and ill draw the analogy to the manafort ca...