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Congressman Reed speaks about criminal case against Rep. Collins'

August 09, 2018 05:10 PM

News10NBC is learning more about the criminal case against local Congressman Chris Collins.

Federal prosecutors charged Collins, his son and his son's future father-in-law with insider trading. On Thursday, fellow Congressman Tom Reed spoke about the case on CNN. 

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"We did a great step in the STOCK Act, which did a lot to curtail a lot of abuses from before, open to the improvements going forward," said Rep. Reed. "But at the end of the day, this is why there are processes in place. We have the House Ethics Committee looking into this issue." 

Prosecutors say Collins passed along information about a failed drug trial before the news became public. 

His co-defendants sold their stock, and saved hundreds of thousands of dollars.

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