(AP) U.S. Rep. Chris Collins has pleaded not guilty to insider trading charges.
The Republican from western New York appeared in a courtroom in New York City Wednesday afternoon to face accusations that he illegally leaked confidential information about a pharmaceutical company to his son and the father of his son’s fiancee.
Collins was on the board of the Australian company, Innate Immunotherapeutics Limited.
Prosecutors say he got an email while attending a picnic last year at the White House that the company’s medication had failed an important medical trial.
They say Collins told his son, Cameron, who then dumped his stock in the company before the trial results were announced publicly.
Cameron Collins and his fiancee’s father, Stephen Zarsky, also pleaded not guilty in the case.