JUST CREEP INTO IOWA BUT CREEP IN THROUGH NEW HAMPSHIRE PRIMARY
AS WELL.
AS WELL. DAVID.
DAVID. >> FORMER CONGRESSMAN CHRIS
COLLINS SENTENCED TO 26 MONTHS
IN FEDERAL PRISON TODAY AFTER
PLEADING GUILTY TO AN INSIDER
TRADING SCHEME.
TRADING SCHEME. TOM WINTER JOINS ME NOW.
TOM, TAKE US BACK TO WHERE THIS
BEGAN.
BEGAN. IT WAS ON THE WHITE HOUSE LAWN
AT A CONGRESSIONAL PICNIC.
BUT WHAT WAS HE ACCUSED OF?
WHAT WAS HE CONVICTED OF AND
SENTENCED TO?
SENTENCED TO? >> DAVID, YOU SET THE SCENE
PERFECTLY.
PERFECTLY. WHAT HAPPENED IS THAT CHRIS
COLLINS WAS ON THE BOARD OF A
PHARMACEUTICAL COMPANY AND
OBVIOUSLY PHARMACEUTICAL
OBVIOUSLY PHARMACEUTICAL COMPANIES GO THROUGH DRUG
TRIALS.
TRIALS. THEY WANT TO SEE IF WHATEVER
DRUG THEY’RE DEVELOPING ACTUALLY
WORKS ON PATIENTS OR ACTUALLY
WILL WORK IN TESTS.
AND WHEN CHRIS COLLINS WAS ON
THE WHITE HOUSE LAWN, PART OF A
CONGRESSIONAL PICNIC AS YOU
SAID -- EXCUSE ME -- HE GOT A
PHONE CALL SAYING THE TRIAL
HAPPENED AND IT WENT BAD.
AND BASICALLY, THIS REALLY BAD
NEWS FOR THE COMPANY AND ONCE
THE NEWS BECAME PUBLIC, THE
SHARES WOULD PLUMMET.
WHICH IS WHAT THEY EVENTUALLY
DID.
DID. BUT THERE WAS GOING TO BE A HOLD
ON HIS SHARES, HIS SHARES WERE
BEING HELD OVERSEAS WHERE THE
COMPANY WAS LOCATED BUT NOT ON
HIS SON’S SHARES.
SO FOR THE NEXT COUPLE DAYS, IT
WOULD NOT BE KNOWN TO THE REST
OF US THIS TRIAL HAD GONE POORLY
FOR THE COMPANY.
PICKS UP THE PHONE.
HE CALLS HIS SON AND HE ALSO HAD
HIS -- HIS FUTURE IN-LAWS
ACTUALLY OWN SHARES IN THIS
COMPANY AS WELL, CALLS HIS SON
AND HE SAYS YOU GOT TO START
DUMPING THIS STOCK.
HIS SON -- HIS SON, AS WELL AS
THOSE IN-LAWS, WERE ALSO CHARGED
IN THE STEEM.
SCHEME.
SCHEME. NOT A GOOD MOMENT.
>> THE TERM WAS 26 MONTHS IN
PRISON.
PRISON. SERVE TWO TERMS CONCURRENTLY
HERE.
HERE. HOW IN LINE IS IT WITH WHAT
PROSECUTORS WANTED?
PROSECUTORS WANTED? >> KIND OF SPLIT THE MIDDLE
HERE.
HERE. BASICALLY, PROSECUTORS WANTED
ALMOST FIVE YEARS FOR WHAT HE
DID.
DID. THEY ASKED FOR THE UPPER END OF
THE GUIDELINE RATE.
SO CERTAINLY NORTH OF FOUR
YEARS.
YEARS. GOING TO DO A LITTLE OVER TWO
YEARS.
YEARS. BASICALLY, PROSECUTORS SAID,
LOOK, NOT ONLY WAS HE INVOLVED
IN THIS INSIDER TRADING SCHEME.
HE PLEADED GUILTY TO IT BUT ALSO
TEN MONTHS LATER WHEN THE FBI
KNOCKED ON HIS DOOR, HE
PROCEEDED TO LIE TO FEDERAL
AGENTS.
AGENTS. THEY ALSO DON’T WANT THERE TO
SEEM LIKE THERE’S TWO JUSTICE
SYSTEMS, PARTICULARLY FOR
SOMEBODY WHO THEY KEPT REPEATING
IS SOMEBODY WHO NOT ONLY BROKE
THE LAW BUT HE WAS A PERSON WHO
WROTE LAWS TO BEGIN WITH.
SO REALLY SOMEBODY WHO -- WHO
ABSOLUTELY SHOULD HAVE KNOWN
BETTER.
BETTER. >> DO WE KNOW WHERE HE IS
HEADED?
HEADED? I KNOW HE HAS -- PENSACOLA.
HIS ATTORNEY SAID THAT’S WHERE
HE’D LIKE TO SERVE HIS TIME IF
HE COULD.
HE COULD. >> TODAY, THE JUDGE HANDED DOWN
THE SENTENCE.
THE SENTENCE. JUDGE BRODERICK TOLD THE COURT
ESSENTIALLY THEY HAD ASKED FOR
THIS PENSACOLA PRISON CAMP.
NOT EXACTLY MAXIMUM-SECURITY
PRISON.
PRISON. SO -- SO BASICALLY, IT SOUNDS
LIKE THE JUDGE IS GOING TO
ADVOCATE FOR HIM TO GO THERE.
AND THAT’S WHERE HE’LL LIKELY
SERVE HIS TIME.
HE MOVED TO FLORIDA AFTER
LEAVING THE BUFFALO AREA.
>> HE WAS ONE OF THE FIRST, IF
NOT THE FIRST, TO ENDORSE DONALD
TRUMP WHEN HE WAS RUNNING FOR
PRESIDENT.
PRESIDENT. HOW DOES THE PRESIDENT WEIGH IN
ON THIS WHOLE PROCESS?
>> WE HAVEN’T REALLY HEARD MUCH
FROM THE PRESIDENT AT ALL
OUTSIDE WHEN HE WAS FIRST
INDICTED.
INDICTED. WE HAVEN’T HEARD ANYTHING
RECENTLY.
RECENTLY. OUTSIDE OF COURT TODAY, I WAS
THERE.
THERE. REPORTERS FROM BLOOMBERG ASKED
HIM ARE YOU GOING TO SEEK A
PARDON?
PARDON? HE KIND OF GAVE A QUICK
DISMISSAL, LOOKED TO THE GROUP
OF US THAT WERE THERE.
SO WE REALLY HAVEN’T HEARD MUCH
FROM THE PRESIDENT AT ALL.
THE EVIDENCE HERE WAS INCREDIBLY
STRONG.
STRONG. THERE WERE PEOPLE THAT HAD
PROVIDED INFORMATION AND JUST
THE ELECTRONIC TRADING RECORDS
IN AND OF ITSELF IS SO DAMNING.
THE RECORDS THAT ARE KEPT WHEN
YOU MAKE A TRADE ONLINE, THE
AMOUNT OF DETAIL IN THOSE
RECORDS IS VERY STRONG.
BUT WHEN YOU MAKE A TRADE IN A
STOCK AS THERAPEUTICS WAS, IT
JUST STICKS OUT LIKE SUCH A SORE
THUMB TO INVESTIGATORS.
IT WAS REALLY NO WAY OUT OF THIS
FOR COLLINS.
FOR COLLINS. >> LAST QUESTION HERE QUICKLY.
I WAS READING FROM THE
SENTENCING TODAY, THE U.S.
ATTORNEY COMMENTED ON THIS AS
WELL.
WELL. JUST PARAPHRASE WHAT HE HAD TO
SAY.
SAY. >> BASICALLY, I THINK THIS
REALLY UPSETS THE U.S.
ATTORNEY’S OFFICE AND UPSET THE
FEDERAL AGENTS.
FEDERAL AGENTS. I MEAN, NOT ONLY DID HE LIE TO
THE FBI WHEN HE WAS CONFRONTED
ABOUT IT, AS WE JUST DISCUSSED.
BUT THE U.S. ATTORNEY’S OFFICE
ESSENTIALLY SAYING, LOOK, WE
HAVE SOMEBODY WHO IS CHARGED
WITH -- THEY ARE REALLY HELD TO
A DIFFERENT STANDARD AND THEY
MUST OBEY THOSE LAWS.
AND ESSENTIALLY, WAS THIS HUBRIS
THAT U.S. ATTORNEY JEFF BERMAN
REALLY KIND OF WENT AFTER HERE
AND SAID, LOOK.
PEOPLE NEED TO KNOW THAT NOBODY
IS ABOVE THE LAW.
THAT’S KIND OF HIS MAIN POINT
HERE.
HERE. AND THAT WAS THE CONGRESSMAN’S
GREED, THAT WOULD BE USING HIS
WORDS, THAT REALLY GOT HIM INTO
TROUBLE HERE.
TROUBLE HERE. SO I THINK THESE TYPE OF CASES,
WHEN POLITICIANS BREAK THE LAW
THIS BRAZENLY, AND IT WAS
BRAZEN, THAT REALLY GETS UNDER
THE SKIN OF PEOPLE IN LAW
ENFORCEMENT.
ENFORCEMENT. THEY REALLY LOOK -- LOOK DOWN ON