ETHICS/GOP/POLITICAL FIGURES: “The House Ethics Committee said Thursday [10-12-17] it will continue to look into New York GOP Rep. Chris Collins’ dealings with an Australian biotech company, but has not moved ahead with a full-scale investigation into the matter.
The Office of Congressional Ethics, an independent watchdog, had unanimously recommended that the Ethics Committee launch a full probe into Collins’ dealings with Innate Immunotherapeutics Limited, an Australian biotech company.
OCE found there was ‘substantial reason to believe’ that Collins violated House rules and federal law by using inside information in transactions involving Innate stock, as well as using his office to benefit the company, including mentioning an Innate-made drug at a committee hearing. Collins also pushed an Innate drug to NIH officials…
Collins — who has repeatedly denied any improper or unethical behavior — is on the board of Innate and is its biggest stockholder, having invested at least $6 million in the firm. His children own a block of Innate shares too.
Collins has pushed the company’s stock to former HHS Secretary and one-time House colleague Tom Price, other lawmakers and officials in Buffalo, N.Y. Collins was once overheard bragging on the phone in the House Speaker’s Lobby about “how many millionaires I’ve made in Buffalo the past few months.” Price made more than $225,000 in his Innate stock trades, according to public records.”
-John Bresnahan and Kyle Cheney, “Ethics panel continues probe into Rep. Collins’ stock trades,” Politico, Oct. 12, 2017 04:35pm