‘Stunning — the hubris!’ MSNBC’s Ruhle roasts Chris Collins for not covering his tracks in alleged fraud
During a discussion on Collins’ arrest this week for alleged insider trading, CNBC Washington correspondent Eamon Javers pointed out to Ruhle that the GOP lawmaker was remarkably slipshod in the way that he allegedly alerted his son with inside information about Australian biotech firm Innate Immunotherapeutics, which in 2017 had failed a key drug trial that would sent its share values plummeting.
“What’s striking to me is just how sloppy some of this allegedly was,” Javers said. “In these insider trading cases… you often see people go to extreme lengths to hide their trail. They use burner phones, they have surreptitious meetings, they use middle men as cut outs. This indictment alleges that Collins got an email directly from the company about the failure of its major drug — its only significant drug — while he was at the White House congressional picnic, and then minutes later called his own son on his own phone.”
“That’s what’s so stunning to me!” Ruhle responded. “The hubris! He calls him six times! You don’t call somebody six times unless the house is on fire or you’re trying to save him a million bucks on insider information!”
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