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Doc Holliday

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GOP congressman Chris Collins indicted on insider trading charges

Republican U.S. Rep. Christopher Collins of New York has been indicted on charges that he used inside information about a biotechnology company to make illicit stock trades.

The charges were announced and the indictment unsealed in New York City on Wednesday.

The indictment charges Collins and two others, including the congressman’s son, with conspiracy, wire fraud and other counts.

Prosecutors say the charges relate to a scheme to gain insider information about a biotechnology company headquartered in Sydney, Australia, with offices in Auckland, New Zealand.

According to the indictment, the defendants tried to get early word on the results of tests by Innate Immunotherapeutics Limited.

The company developed a drug intended to treat Secondary Progressive Multiple Sclerosis.

Collins has denied any wrongdoing.

Collins was the first lawmaker to openly endorse Donald Trump and the two remain close.

Worth noting that Rep. Chris Collins forcefully defended Trump's refusal to release his tax returns. Collins said elected officials shouldn't release their taxes, period.

Republican congressman indicted
 

Doc Holliday

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Wilbur Ross is accused of swindling $120 million from associates and 'could rank among the biggest grifters in American history,' according to a bombshell Forbes report

US Secretary of Commerce Wilbur Ross has been accused of swindling associates out of more than $120 million, according to a new bombshell report from Forbes.

The magazine interviewed 21 former colleagues, many of whom said Ross had a propensity to filch money for himself.


The Department of Commerce issued a statement in response, saying the Forbes story is "based on false rumors, innuendo, and unverifiable claims."

According to former colleagues, US Secretary of Commerce Wilbur Ross has been known to grab handfuls of Sweet'N Low on his way out of restaurants, to save himself the trouble of having to buy his own.

But that may just be the tip of the iceberg, according to a bombshell report on Tuesday from Dan Alexander of Forbes .

The report says Forbes spoke with 21 people who know Ross and found claims that he wrongly took millions of dollars for himself on multiple occasions. The publication estimated that if all the allegations were true, then Ross had bilked associates out of more than $120 million.

Alexander pulled no punches in summarizing his findings, concluding: "If even half of the accusations are legitimate, the current United States secretary of commerce could rank among the biggest grifters in American history."

A Commerce Department spokesperson vehemently refuted the Forbes report.

"The anonymously sourced Forbes story is based on false rumors, innuendo, and unverifiable claims," it told Business Insider in a statement. "The fact remains that no regulator has made any of these accusations against the Secretary. This rehash of old stories is clearly the result of a personal vendetta. The baseless claims made in this story were well publicized long ago and are not news."

Earlier in the day, a statement from Ross said "the SEC has never initiated any enforcement action against me."

That's not entirely true, Forbes said, considering the US Securities and Exchange Commission fined his firm $2.3 million in 2016.

Alexander's interest in Ross stemmed from the commerce secretary's apparent attempts to mislead Forbes, which the magazine says were an attempt to get himself higher on the publication's ranking of billionaires.

Here's a breakdown of all the allegations outlined in the Forbes report, presented in chronological order. Adding together all of the bolded numbers, you arrive at roughly $120 million.

2005 — A former vice chairman of the firm WL Ross filed a $20 million lawsuit against Ross, alleging that Ross tried to cut him out of his share. They reached a confidential settlement, which reportedly cost $10 million .

2014-2015 — Invesco, the parent company of WL Ross, reported $43 million in regulatory and reimbursement expenses, which four former employees say were tied to issues that occurred under Ross.

July 2015 — Ross' former No. 2 filed a $4 million lawsuit, alleging that Ross stole his interests. They recently reached a confidential settlement.

August 2016 — As mentioned above, WL Ross agreed to pay the SEC $2.3 million after allegations that the firm defrauded and misled investors. The company settled without admitting wrongdoing.

August 2016 — When the SEC announced its fine, it also revealed that the WL Ross paid back $11.9 million it was accused of taking from investors, including interest, when Ross was running the firm.

December 2016 — A former WL Ross employee sued the company, alleging that Ross "looted" his accounts to the tune of $3.6 million .

November 2017 — Three former WL Ross executives sued Ross and their former firm, accusing them of charging $48 million in improper fees. Ross says the legal action is "without merit."

Wilber Ross accused of swindling former business associates
 

sambuca

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This article was sloppy and meandering not the least of which was the case that real estate development is a zero sum economic game, but for some reason trade and other economic activities are not.

I'm sure the article served CNN's immediate hate Trump interest. The fact of the matter is Democrats are perplexed by Trump taking up unfair trade issues. Many Dems including Bernie Sanders have argued for more fair trade.

This quote made me laugh ".....if the administration is truly worried about the suffering of middle-class Americans, the real answer is to increase social support for re-skilling the labor workforce." Huh, wha.....because governments have a great history "re-skilling"workers?
 

Carmine Falcone

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Feb 11, 2017
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I'm sure the article served CNN's immediate hate Trump interest. The fact of the matter is Democrats are perplexed by Trump taking up unfair trade issues. Many Dems including Bernie Sanders have argued for more fair trade.

Asking for fair trade does not equal heavy tariffs. Maybe Bernie never said anything about trade wars because he might listen to reason even though he's a populist too?

https://thestate.com/news/politics-government/article216196580.html

I'm sure it's the Democrats that are perplexed in a red state like South Carolina. 120 people will lose their jobs starting October directly due to the tariffs. The tariffs may have greater impact than that on the state. And it's just one of many states staring down the same barrel of job losses thanks to unnecessary tariffs.
 

jalimon

I am addicted member
Dec 28, 2015
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This quote made me laugh ".....if the administration is truly worried about the suffering of middle-class Americans, the real answer is to increase social support for re-skilling the labor workforce." Huh, wha.....because governments have a great history "re-skilling"workers?

Typical of you American dudes. Put the word social and government in the same sentence and we lose 50% of you ;)

You guys want to go back re-oppening coal mines for jobs (total absurdity) where in China they are working their ass off to eliminate them because those are killing them.

Cheers,
 

Sol Tee Nutz

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Apr 29, 2012
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Look behind you.

sambuca

Active Member
Sep 9, 2015
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Really?

https://www.nytimes.com/2017/07/01/climate/china-energy-companies-coal-plants-climate-change.html

What China claims and does is two different things..
Where do you get your news from?

Oh yes and we have to trust everything the press prints. Jalimon said so.

Joking aside, if the NY Times prints anything that doesn't mesh with their preordained agenda it's probably fairly accurate. I'll say it loud. Could the Paris Climate Agreement be another treaty not worth the piece of paper it's printed on?
 

sambuca

Active Member
Sep 9, 2015
835
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Asking for fair trade does not equal heavy tariffs. Maybe Bernie never said anything about trade wars because he might listen to reason even though he's a populist too?

One of the truly great things about politics is you can throw your support behind a widely-accepted ideal/goal and still criticize your opponent on how they pursue it. All without ever offering a reasonable alternative action to accomplish this goal.
 

Sol Tee Nutz

Well-Known Member
Apr 29, 2012
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Look behind you.
Gee you got me... I dont read the news. Just like Trump I make everything up ;)

It is just that a lot of stuff you post is wrong. Stuff only far left wing media would post.
 

jalimon

I am addicted member
Dec 28, 2015
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It is just that a lot of stuff you post is wrong. Stuff only far left wing media would post.

Again exactly like Trump who is wrong in EVERY tweets he writes. Purely ignorant stuff for uneducated people. Just look at his tweets regarding california's wildfire ;)

Cheers,
 

sambuca

Active Member
Sep 9, 2015
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We can't lock him up for stupid tweets, but I think Mueller and Rosenstein would like to try.
 

jalimon

I am addicted member
Dec 28, 2015
6,251
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We can't lock him up for stupid tweets, but I think Mueller and Rosenstein would like to try.

He is fucking president of the united states!! Why do you guys allow him to openly lie on official statement? He is not doing them from his personal account.

Soon the united states will do like so called democratic Muslim countries and create a minister of propaganda ;) We are close. Steve Bannon should be now reinstated as he would be perfect.

Cheers,
 

sambuca

Active Member
Sep 9, 2015
835
2
38
Inspector Jalimon, this would be a great time for you to make your endless post about how we haven't seen Trump's tax returns. As I've always said, I'm sure the IRS and Mueller would love to get there hands on those damn tax returns. We Americans are so glad Inspector Jalimon is on the case.

By the way, I can't figure out if your beloved Prime Minister Trudeau has released his taxes to the public.
 

Sol Tee Nutz

Well-Known Member
Apr 29, 2012
7,675
1,523
113
Look behind you.
By the way, I can't figure out if your beloved Prime Minister Trudeau has released his taxes to the public.

With Trump on the news do you think any Liberal would care if Justine is slowly killing Canada? They do not listen to the news, they get their news from here or on Facebook.
 

sambuca

Active Member
Sep 9, 2015
835
2
38
By the way, how do you lose a poker game when it's on your table and you have five chips and your opponent has one chip?
 

Carmine Falcone

Well-Known Member
Feb 11, 2017
707
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By the way, I can't figure out if your beloved Prime Minister Trudeau has released his taxes to the public.

Whataboutism FAIL! A Google search of 3 seconds says Canadian elected officials aren't required to release their taxes. So Trudeau not releasing his is most likely not an aberration. Canadians, please feel free to correct me if I'm off. Of course, US presidential hopefuls aren't required either but it's particularly interesting that the one person to break a 40 year convention was a huckster and conman in his personal business. (Oddly enough, the tax release convention was started when another crook was in the White House). After Trump, I'm sure it will be required for presidential aspirants to release their taxes in the near future.

You need a new schtick, dude. It has to be hard with people running circles around you 90% of the time. I certainly hope it's a schtick; it'd be pretty sad if everything you type is in sincerity.
 
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