Rep. Chris Collins Resigns Ahead Of Expected Insider Trading Guilty Plea | Katy Tur | MSNBC


ELI, KIMBERLY, WE APPRECIATE IT. JEFF, DON’T GO TOO FAR FROM THAT JEFF, DON’T GO TOO FAR FROM THAT CAMERA. CAMERA. YOU’RE COMING BACK LATER THIS YOU’RE COMING BACK LATER THIS HOUR. HOUR.>>>BREAKING NEWS WE DO NEED TO>>>BREAKING NEWS WE DO NEED TO REPORT RIGHT NOW. REPORT RIGHT NOW. CHRIS COLLINS IS RESIGNING FROM CHRIS COLLINS IS RESIGNING FROM THE HOUSE. THE HOUSE. WE LEARNED TODAY THAT COLLINS WE LEARNED TODAY THAT COLLINS PLANS TO PLEAD GUILTY TOMORROW PLANS TO PLEAD GUILTY TOMORROW IN FEDERAL COURT TO CHARGES IN FEDERAL COURT TO CHARGES RELATED TO INSIDER TRADING. RELATED TO INSIDER TRADING. COLLINS INITIALLY PLEADED NOT COLLINS INITIALLY PLEADED NOT GUILTY WHEN HE WAS FIRST GUILTY WHEN HE WAS FIRST INDICTED IN 2018. INDICTED IN 2018. JOINING ME NOW TOM WYNTER. JOINING ME NOW TOM WYNTER. CHRIS COLLINS WAS THE VERY FIRST CHRIS COLLINS WAS THE VERY FIRST REPUBLICAN, TOM, TO ENDORSE REPUBLICAN, TOM, TO ENDORSE PRESIDENT TRUMP IN 2016. PRESIDENT TRUMP IN 2016.>>THAT’S RIGHT, KATY.>>THAT’S RIGHT, KATY. ONE OF THE FIRST PEOPLE TO BE ONE OF THE FIRST PEOPLE TO BE INDICTED FROM A STANDPOINT OF INDICTED FROM A STANDPOINT OF CONGRESSMAN HERE IN THE LAST CONGRESSMAN HERE IN THE LAST COUPLE OF YEARS. COUPLE OF YEARS. THIS IS SOMEBODY WHO IS INDICTED THIS IS SOMEBODY WHO IS INDICTED FOR A SCHEME AND HIM BEING ON FOR A SCHEME AND HIM BEING ON THE PHARMACEUTICAL BOARD IN THE PHARMACEUTICAL BOARD IN AUSTRALIA RECEIVED WORD THAT A AUSTRALIA RECEIVED WORD THAT A DRUG TEST HAD GONE BAD. DRUG TEST HAD GONE BAD. THE DRUG WAS NOT EFFECTIVE THE DRUG WAS NOT EFFECTIVE BECAUSE HIS SHARES WERE LOCKED BECAUSE HIS SHARES WERE LOCKED UP IN AUSTRALIA IN AND TRADING UP IN AUSTRALIA IN AND TRADING OF THOSE SHARES WAS HALTED OF THOSE SHARES WAS HALTED THERE. THERE. HE WASN’T ABLE TO DO ANYTHING HE WASN’T ABLE TO DO ANYTHING WITH THOSE SHARES BUT HE WAS WITH THOSE SHARES BUT HE WAS ABLE TO PICK UP THE PHONE AND ABLE TO PICK UP THE PHONE AND CALL HIS SON WHO TRADED 1.3 CALL HIS SON WHO TRADED 1.3 MILLION PLUS ON THE MARKETS HERE MILLION PLUS ON THE MARKETS HERE IN THE UNITED STATES AND WAS IN THE UNITED STATES AND WAS ABLE TO AVOID A SIGNIFICANT LOSS ABLE TO AVOID A SIGNIFICANT LOSS IN THE COURSE OF THAT TRADING IN THE COURSE OF THAT TRADING COURSE OF THE INSIDER COURSE OF THE INSIDER INFORMATION FROM HE RECEIVED INFORMATION FROM HE RECEIVED FROM HIS DAD, CONGRESSMAN CHRIS FROM HIS DAD, CONGRESSMAN CHRIS COLLINS, WHO IS NOW RESIGNING. COLLINS, WHO IS NOW RESIGNING. HE DOES PLAN TO PLEAD GUILTY HE DOES PLAN TO PLEAD GUILTY TOMORROW AT 3:00 P.M. HERE IN TOMORROW AT 3:00 P.M. HERE IN MANHATTAN FEDERAL COURT. MANHATTAN FEDERAL COURT. SO, OTHERS WERE ALSO BECAUSE OF SO, OTHERS WERE ALSO BECAUSE OF THAT INSIDE INFORMATION WERE THAT INSIDE INFORMATION WERE ABLE TO AVOID SIZABLE LOSSES ABLE TO AVOID SIZABLE LOSSES HERE AND, BASICALLY, HE WAS HERE AND, BASICALLY, HE WAS CAUGHT BECAUSE THE STOCK WAS SO CAUGHT BECAUSE THE STOCK WAS SO THINLY TRADED. THINLY TRADED. ANY TIME YOU MOVE 1.4 MILLION ANY TIME YOU MOVE 1.4 MILLION SHARES AND BARELY ANY SHARES SHARES AND BARELY ANY SHARES TRADE, IT’S GOING TO RAISE RED TRADE, IT’S GOING TO RAISE RED FLAGS. FLAGS. THAT’S WHAT HAPPENED HERE. THAT’S WHAT HAPPENED HERE. ESSENTIALLY CAUGHT RED HANDED ESSENTIALLY CAUGHT RED HANDED AND NOT SURPRISING BASED ON THE AND NOT SURPRISING BASED ON THE PHONE LOGS AND HOW MANY PHONE LOGS AND HOW MANY CO-CONSPIRATORS WERE INVOLVED CO-CONSPIRATORS WERE INVOLVED HERE. HERE. THE GOVERNMENT WAS ABLE TO GET A THE GOVERNMENT WAS ABLE TO GET A LOT OF INFORMATION AND A LOT OF LOT OF INFORMATION AND A LOT OF EVIDENCE. EVIDENCE.>>MOST SURPRISING THAT HE>>MOST SURPRISING THAT HE PLEADED NOT GUILTY IN THE FIRST PLEADED NOT GUILTY IN THE FIRST PLACE BEFORE HE DECIDED TO PLACE BEFORE HE DECIDED TO CHANGE HIS PLEA. CHANGE HIS PLEA. CHRIS COLLINS REPRESENTS UPSTATE CHRIS COLLINS REPRESENTS UPSTATE NEW YORK. NEW YORK. IT IS UNCLEAR WHAT IS GOING TO IT IS UNCLEAR WHAT IS GOING TO HAPPEN TO HIS SEAT.

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