When the FBI interviewed Collins and the other defendants, they lied to cover up their participation in the insider trading, according to the indictment.
In a statement, U.S. Attorney Geoffrey Berman said Collins “helps write the laws” of the U.S., but he “acted as if the law did not apply to him.” He added that the charges against the lawmaker are a “reminder that this is a nation of laws.”
Furthermore, Berman emphasized that they are dedicated to pursuing justice without fear or favor, no matter who committed a crime.
“Collins cheated our market and our justice system in two ways,” Berman said. “First, he tipped his son to confidential corporate information at the expense of regular investors. And then he lied about it to law enforcement to cover it up.”
Collins and the other defendants pleaded not guilty to the charges against them at the federal court in Manhattan.
