Former GOP Rep. Chris Collins sentenced to federal prison on insider trading charges

Summer Meza

Former GOP Rep. Chris Collins was sentenced on Friday to two years in federal prison on charges of insider trading and lying to the FBI, reports NBC News.

Collins, who was a New York representative since 2013 and was the first member of Congress to endorse President Trump's candidacy, pleaded guilty to tipping off his son to confidential information regarding an Australian biotechnology company, which allowed them to make illegal stock trades avoiding more than $700,000 in losses.

At his sentencing, Collins tearfully apologized, reports The Washington Post. "I stand here today a disgraced former congressman," he said. "I cannot face my constituents. What I have done has marked me for life." The 26-month sentence will begin on March 17, and will likely be served at a federal prison camp in Pensacola, Florida.

Read more at NBC News and The Washington Post.

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