Oct 13, 2017

Trump-backing US Congressman in hot water over Aussie company

A Republican Congressman and early Trump supporter is under investigation amid suspicions he gave a leg-up to an Australian biotech company

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

A US Congressional ethics oversight body says New York Republican House of Representatives member Chris Collins may have broken US federal law when he took actions to help listed Australian biotech Innate Immunotherapeutics, in which Collins holds a big stake.

According to a report on Friday morning The Office of Congressional Ethics said that Collins may have shared material, nonpublic information in Innate (IIL, +6.90% INNMF, +4.09%) and that he may have purchased discounted stock, not offered to the public, because he was a member of the House of Representatives. He is also a member of the House health Commitee. 

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details