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Failed, he passed that information on to his son, but it wasn't public information yet. his son then allegedly told several others and all made quote timely trades company's stock. once news went public the stock plunged by 92%. indictment says the defendants avoided more than $768 grand in losses by selling their stock before the results went public. wo joining me now capitol hill correspondent and anchors. guys, i want to start with a quick flashback. january, 2017. jake sermherman tweets this. flash back overheard in the capital new york represent chris collins talking loudly into a phone o...

Were participating in a private placement offering. >> it was lower than was available to the general public, correct? >> i don't know that it was. it was the same price that everybody paid for the private placement offering. >> well, congressman chris collins, who sits on president-elect trump's transition team, is both an investor and a board member of the company. he was reportedly overhead just last week off the house floor bragging about how he had made people mill on airs from a stock tip. congressman price, in our meeting, you informed me that you made these purchases based on conversat...

Were participating in a private placement offering. >> that was low are than was available to the general public, correct? >> i don't know that it was. it was the same price that everybody paid for the private placement offering. >> well, congressman chris collins who sits on president-elect trump's transition team is both an investor and a board member of the company. he was reportedly overheard just last week off the house floor bragging about how he had made people millionaires from a stock tip. congressman price, in our meeting, you informed me you made these purchases based on conversatio...

An investor and a board member of the company. he was repeated -- or reportedly overheard just last week off the house floor bragging about how he had made people millionaires from a stock tip. congressman price, in our meeting, you informed me that you made these purchases based on conversations with representative collins. is that correct? >> no. what i -- >> well, that is what you said to me in my office. >> well, what i believe i said to you was that i learned of the company from congressman collins. >> what i recall our conversation was, that you had a conversation with collins and then d...