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NEW YORK CITY (WIVB) — Chris Collins was on Friday sentenced to 26 months for his conviction on conspiracy to commit securities fraud and lying to the FBI.
The former congressman for New York’s 27th District was also handed down one year of supervised release and a $200,000 fine.
Collins last year pleaded guilty to insider trading, as did his son Cameron Collins and his son’s father-in-law, Stephen Zarsky, who were both tipped off. That allowed them to save hundreds of thousands of dollars, as alleged by prosecutors in the indictment Collins pleaded guilty to.
Federal prosecutors recommended that Collins serve between 46 and 57 months in prison. Collins’ attorneys sought probation. Probation officers recommended he spend a year and a day in prison.
“It’s a big swing,” said Cheryl Meyers Buth, a legal analyst and attorney at Meyers Buth Law Group. “I find in my practice it’s the most stressful time for a defense client because you won’t know until you’re standing in front of a judge what he’s going to do.
“You won’t know – are you going to federal prison are you going to a halfway house? Are you going to be on probation and what the conditions of probation are going to be?”
Full Story: https://www.wivb.com/news/top-stories/chris-collins-sentencing-january-17/