Updated: January 24, 2020 06:19 AM
Created: January 23, 2020 04:49 PM
NEW YORK (AP) — The son of former U.S. Rep. Christopher Collins has been spared a prison sentence after pleading guilty in an insider trading conspiracy with his father.
U.S. District Judge Vernon Broderick ordered 27-year-old Cameron Collins on Thursday to serve 500 hours of community service over the next five years. He also fined him $150,000 and spend six months in home confinement, WGRZ reports.
Collins said he evaded $570,000 in potential losses by selling the stock of a small pharmaceutical company after his father told him that a study of the company's sole drug had failed. The elder Collins sat on the company's board.
The father was sentenced last week to serve two years and two months in prison.
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