August 10, 2018 06:33 AM
Chairman of Brighton Securities and News10NBC's resident financial expert George Conboy explains the charges filed against Rep. Collins.
Congressman Collins sits on the board of a pharmaceutical company. He's accused of insider trading involving the stock of that company.
Rep. Collins defends his actions by pointing out that he did not trade a share of the company's stock.
Instead, he's accused of sharing inside information with his son who then shared it with other family members. Those individuals sold the stock based on that non-public information. Since Collins didn't sell any stock, will that get him off the hook?
In the video above, Conboy explains what insider trading is and what it means for Rep. Collins.
Updated: August 10, 2018 06:33 AM
Created: August 09, 2018 06:19 PM
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