Rep. Chris Collins sent the message below via email to a group of his supporters Wednesday morning.
I'm sorry to tell you that I have some very bad news to share. I understand that the U.S. Attorney's Office in Manhattan is filing charges against me alleging that I shared information with my son Cameron about the negative drug trial results of Innate in June of 2017 and that Cameron sold shares based upon that information. Charges have also been filed against Cameron related to his trading. We both look forward to clearing our good names and being exonerated at trial.
I'm sure you are as shocked by this development as we are. Your first reaction may be to want to call to discuss this development or express support. Because my focus is to defeat these charges in Court, after today, I will not address any issues related to Innate Immunotherapeutics outside of the courtoom. As I fight to clear my name, rest assured that I will continue to work hard for the people of the 27th Congressional District of New York while remaining on the ballot for reelection this November.
I thank you for your continued support.
Federal prosecutors announced Wednesday morning that Collins; Collins' son, Cameron; and Stephen Zarsky, the father of Cameron Collins' fiancée, had been arrested. All three surrendered to federal authorities in New York City, a spokesman for the U.S. attorney for the Southern District of New York said.
Collins has been charged with one count of conspiracy to commit securities fraud, seven counts of securities fraud, one count of wire fraud and one count of making false statements to the FBI. His son and Zarsky face similar charges.