ABOUT THIS EPISODE

We discuss the latest on the indictment against Congressman Chris Collins. Listen to Beach and Company LIVE Monday thru Friday 9am-Noon on News Radio 930 WBEN

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TRANSCRIPT

00:00:00here we are back to where the region governing I'm sandy beach in the words of a family and live tele never mind we are going to switch obviously because of the seriousness of the charge the indictment is a twenty nine pages long and I have a copy of
00:00:15a right here and it's also on our road WB and a web page so you can check that out as well %HESITATION but basically let me give you the story in case you're tuning in light of here it is congressman Chris Collins been charged with insider trading relating
00:00:32to securities of an Australian biotechnology company we had heard about this company before they knew they were working on some breakthrough %HESITATION yet information about %HESITATION health and and and it seemed to be a promising new company so that's all we knew about it at the time Collins
00:00:49is charged with his son Cameron and Stevens are scary the father of a camera and Collins fiance the charges were filed in a Manhattan courtroom Wednesday morning which was today %HESITATION the %HESITATION a Collins attorney released the following statement shortly after the indictment we will answer the charges
00:01:08filed against congressman Collins in court and will mount a vigorous defense to clear his good name it is notable that even the government does not allege that congressman Collins traded a single share of innate therapeutic stock we are confidence he will be completely vindicated and exonerated %HESITATION so
00:01:28that so that's what we have right there you ready to go okay let's go to our noted the defense attorney Paul Cambria Paul always welcome on the show certainly a kind of out of the blue announcement that there's been an indictment on our right sitting congressman Chris call
00:01:45is a give me your top of the mind of thoughts on this well I think that %HESITATION it was clear to at least people in my profession that they work done in the investigation leapt up there was a good possibility of an indictment %HESITATION so I'm not exactly
00:02:05surprised by it had a chance to read part of it %HESITATION you know it's the typical %HESITATION insider trading allegations CNN forfeiture counts where they basically say if you're convicted of weight watchers fortress all the proceeds %HESITATION so that so basically at at first blush I didn't catch
00:02:28sandy who %HESITATION made that statement that you just forgot it says his lawyer but his lawyer is a name is not mentioned I what I guess is so Washington plus New York City person probably I know that %HESITATION he had representation that way in the past for the
00:02:47congressional investigation do you see this obviously if if found guilty and we're speculating now obvious Lee but you know the law certainly I would this possibly lead to our removal from office or is this just a fine situation %HESITATION would there be any jail time involved if a
00:03:06guilty over it was found a way to see this going punitive early are all of the above well it it could be all of those %HESITATION on the federal side the penalties are always teach the young all their future %HESITATION you're talking ten years twenty years maximums %HESITATION
00:03:27obviously if so %HESITATION he said if he's convicted are serrated or he won't be able to continue as a congressman so it's very serious of the federal side very serious %HESITATION Manhattan is not always the most favorable place %HESITATION for jury verdicts as we've seen a number of
00:03:48times over and over yeah how does how does the government in improving in attempting to prove their case are how do they drive time line is a strictly on the purchase of stock %HESITATION no the trading of the stock how do they narrow it down to something they
00:04:04can prove in court well the indictment lists a number of emails and communications back and forth among the party so it it's clear that what they're going to look at is %HESITATION was there was there trading was the trading based on so called insider information of something that
00:04:26would not offend open and available to the public %HESITATION at the all that kind of been the focus of the investigation from the very beginning when they started %HESITATION talking about all this and I'm pretty sure Collins is up for reelection oh yes I I think I've heard
00:04:44that is there any way shape or form that a defense attorney would bring up the political side of any kind of an investigation and or indictment or is that totally separate from what we're talking about now now I think that %HESITATION if there's a feeling that there's you
00:05:02know this is politically motivated %HESITATION but obviously but legitimate issue to raise %HESITATION it is it tactically heart of the elements of a crime and on the other hand %HESITATION long scratches that can be exercised in cases like this many up should be handled Shivalli although as you
00:05:24recall live %HESITATION Marcus Stewart and several others %HESITATION insider trading is not exactly %HESITATION you know just ignored by the authorities of Stewart did try it now there's there was a a lot made %HESITATION where in the presidential campaign was going on about the information about Hillary Clinton
00:05:45if anybody had it when it but would be released and there was a real concern that any information released just before an election would to influence what could possibly influence of that election would there be any concern this time because of the timeline of when this was released
00:06:04yeah sure sandy that's also a valid observation ask yourself you know wash the timing of this I think if they say all well you know it if we really were going to do something like that we were you know a lot about September or October %HESITATION as opposed
00:06:23to the you know now in August but %HESITATION it still has the same impact I mean they're actively campaign for the active candidate allergy college and obviously that's going to have a huge impact on his ability to be reelected but I think that's the least of his problems
00:06:43do you think %HESITATION and this is just speculation do you think the president would make it will make any public speculation on the future of that indictment will he make any any tweet any formal announcement or will he stay hands off well you know usually the answer to
00:07:02that would be that they what with this president I'm sure probably happened already %HESITATION Indio visits was a close copy that appears you think about it college was the first congressional member to endorse it true and kind of his PR guy government if you will %HESITATION always defending
00:07:25everything the president did for the most part and so I'm sure the president will ship it somewhere well we thank you for your expertise I'm sure we'll be in touch here from time to time thank you we appreciate it right okay thank you very much ideas noted defense
00:07:41attorney Paul Cambria are talking about the indictment is twenty nine pages almost thirty page indictment of a Chris Collins for insider trading and that will will take your thoughts on it so now obviously let's do a huge disclaimer shall we you don't know and I don't know the
00:08:01government claims to know we will find out what the government knows as time goes on but let's label is what it is right now it is pure hundred percent speculation and as long as we understand that %HESITATION you don't have to bother with the calls that nothing's been
00:08:18proven yet we understand that too okay I'll but it is so what people will be talking about for maybe sometime to come I so as long as you understand it and I understand it will proceed with it on newsradio nine thirty WB and cases just turning the radio
00:08:34on and %HESITATION in learning about this Chris Collins are congressman has been indicted along with his son and a third party for insider alleged we we we do a sale ads because this is all alleged by the US government %HESITATION now I'm trying to work my way through
00:08:55this indictment section ten %HESITATION will give us an idea what they're talking about it or about a June twenty seventeen Christopher Collins the defendant violated that duty he owed to innate now in a there's the company of a bio company that he owns a I was sixteen in
00:09:14something percent of the of the stock okay %HESITATION video do an eight by passing material non public information regarding the drug trial results to his son Cameron Collins the defendant so the Cameron Collins could use the information to make that timely trades in innate stock and tip others
00:09:36as well I Cameron Collins traded on the inside information and pass it to Stevens our ski the defendant we understands our ski is the father of of the sons of fiance or wife eyes I'm I'm learning as you're learning is this fun we're learning together about what's in
00:09:56this indictment and the obviously this may be a big enough story that a national breaks and I think they would and an offer updates a Tony of the they said anything about that you know you're going to carry a press conference at twelve o'clock okay twelve o'clock the
00:10:12press conference by the US attorney's office downstate so they will lay out a lot of the things in this %HESITATION in this indictment %HESITATION but it seems like because some of the questions you may be asking so are some of the questions %HESITATION everybody else may be asking
00:10:30%HESITATION and %HESITATION you're welcome will the president get in involved with this at all is a matter of fact %HESITATION I eyes I've mentioned I threw that out there to %HESITATION %HESITATION to Paul and that he says with this president you never know when the first post that
00:10:46I get the first one says what are the chances of trump giving a full pardon are the indictment just came down today within the hour practically and that's the first thing brought into this it is a political one can say that the it may or may not be
00:11:06but let's make one thing clear I don't know if he's guilty of insider trading or if he's not guilty of insider trading about one thing I I do know it's all an allegation and does so far nothing has been proven these are things that the government the US
00:11:22attorney's office alleges happened and they have to prove that in order to win their case scrolling through %HESITATION social media and I've seen some reaction and unlike the laughter people on the right are not going to support college just because he's in the and their club I've seen
00:11:40a couple of already is saying look if he's guilty go to jail that's sure what side you're on if you're guilty you go to jail that's exactly right if they if the government has Hey has the evidence and they've gained it lawfully legally and he's found guilty is
00:11:56found guilty whatever the punishment might be might be if he is not and he is freed was so be it I think it's %HESITATION the way we do things in America we don't we don't defend them simply because we like what party they belong to we like what
00:12:13what kind of laws they like the past we either defend them or not depending on their guilt or innocence and and %HESITATION it's too early to know these are these are all allegations they have not been proven yet and unlike others how many times have we said that
00:12:29one of the problems %HESITATION with many cases is that if somebody is your ethnicity or your party or your club or your town or your state you tend to defend them instantly and not the case with us and there never has been so if he's guilty he's guilty
00:12:47if he's innocent is innocent and %HESITATION made the truth come out in the trial so now we we have another one think about it like this how will this affect the future cycle of the make up of the house of representatives I don't know well if he's found
00:13:06guilty in and as Mr came reinstated he could be removed from office held no going to jail so there would be very out of gas a special election they got along well let's see I got along that would take up I think the question is can the Republicans
00:13:20hang on to that seat if there was a US special let's just think about the time it came to a decision of well of guilt or innocence how long that can today sure it could take depends on depends on what they have been and that could take a
00:13:35long time before that decision is made and the decision I think will be pretty cut drivers found guilty of but to get to that point would take some time I'm thinking all right well what else do we have here you can go on line at the let's say
00:13:52three oh nine trios attacks number that gets you to a screen right in front of us eight OO three OO nine three oh one eight hundred six one six nine two three six and star nine thirty that indeed it would be the traditional way we've been doing it
00:14:06on on the telephone and we also have the of Facebook page would you advise him at this point to lay low as far as any political comments any support for president up no I'm talking about Chris Kyle Chris garland yeah I I don't know his lawyer will probably
00:14:22tell him not to not to talk lawyers are not fond of a loose lipped clients because it makes their job harder the lawyer may be guiding it down a certain path and all of a sudden the person takes it to a different place it we've seen that kind
00:14:39of thing happen before my advice to anybody if you have a lawyer let the lawyers speak for you whether it's in this or anything else that's why you have the lawyer you're not going to be smarter than the lawyer you're not gonna know more than the lawyer knows
00:14:57%HESITATION regarding the law probably I hope so otherwise you're hired the wrong lawyer but that's the bottom line is I would assume the lawyer would tell him to keep a lid on it all right you have fox news website has it and it is a national story and
00:15:14there will be a news cast there will be a press conference I'm sorry at noon yeah okay everybody this is a tax everybody makes gobs of money in the swamp but if you help trump you're going to get indicted well those are questions as to whether the %HESITATION
00:15:29how much of a political influences is they still have to have with the allegations even if they go down once they get two of the the court they have to have the proof let's go to the line up sorry one let me put this on hold because that's
00:15:48not quite ready yet this one is %HESITATION Johnny Williams old John you're on WBCN well hi fi indie hello John your screener up until last year I was working for a company Nicolas Collins was a part owner in it by virtue of like you know remember and talk
00:16:04and all that stuff everyone was talking about this in a cute okay right everyone bought it I lost money on it I will have more than I would there even even want to get a clear too however there is one million percent politically motivated let me tell you
00:16:22why Chris Collins lost millions on that he believes in it so much that a lot millions no one speaks of war there with their money well that's true if if indeed you are you suggesting to your son or anybody else to buy the stock and you are losing
00:16:40money on it I I don't think you'll be doing that that's common sense no in the thing is we believe that so much in in you know dominated with that I was dealing with and everything like that it was it was in there and you know let me
00:16:51tell you something I was counting my chickens because a lot of other people and it wasn't through the maliciousness because Colin you know good sound yes it is our fault but you know doing what he did there are those in a company called at all he was just
00:17:08trying to help friends okay let me as just lay this on you because I've said this for years well before Chris Collins is the the law isn't about right and wrong it's about legal or illegal so I don't know if the law would look at this and say
00:17:22he lost money on it now you and I would say if you lost money on it why would be recommended to his son obviously but the law might say that it doesn't matter if you lost money or not if that information was given and then after that he
00:17:36lost money on it it we really won't matter but Hey thank you for your input we appreciate it at least we get some information from that gentleman NATO three on nine three zero one eight hundred six one six nine two three six nine nine thirty we're back after
00:17:50this these are governing of said he made sure Chris Collins has been arrested and indicted along with his %HESITATION his son was indicted as well and the son's future wrote father in law is a charge in this indictment to now I just got this as as a showing
00:18:22already progress and I have in my hands a thirty page indictment and we're going through it together I'm trying to find the time line and the the crime a part of it %HESITATION ads to get beyond the ifs ands or where fors and and whatever and I think
00:18:37this is important this is section twenty five twenty six and twenty seven normally I would just read this to you but this is the %HESITATION just of it okay section twenty five the U. S. OTC market probably over the counter %HESITATION was closed when Cameron Collins learn the
00:18:55negative drug trial results from Christopher call as the defendant on or about the night of June twenty second twenty seventeen the following morning at approximately seven forty two AM Cameron Collins placed an online order with his brokerage firm to sell approximately sixteen thousand five hundred and eight shares
00:19:15of an eight and it's the name of the company Chris Collins owns a sixteen point eight percent of it are they are you as old as the market this order was executed at nine thirty AM when the market opened later that day Cameron Collins place approximately seventeen additional
00:19:35orders to sell innate stock on or about June twenty six the following Monday Cameron Collins place approximately thirty six additional orders to sell the stock many of the orders are placed on June twenty third and June twenty six moreover occurred after additional discussion with Christopher Collins the defendant
00:19:56for example on Friday June twenty third at approximately three twelve PM Cameron Collins placed five minute and five seconds call to Christopher Collins while the two were still on the phone Cameron Collins place an online order with his brother to sell approximately fifty thousand shares of an eight
00:20:16in total Cameron call as a defendant sold approximately one million three hundred and ninety one thousand five hundred shares of innate stock between the morning of June twenty third two thousand seventeen in the close of the market on June twenty sixth two thousand and seventeen when innate publicly
00:20:34released the drug trial results so he did all this before they released the publicly and that's very very important now here's the last sentence of section twenty seven these sales allowed Cameron Collins to avoid approximately five hundred and seventy thousand nine hundred dollars in losses now that's a
00:20:57pretty big number pretty big number but the key to the whole thing was the innate publicly released the drug trial results after the sales were executed by Cameron well after information from his father so I think that the I'm not a lawyer certainly but I'm thinking that time
00:21:19line is very important and the fact that he got the information before the public got the information that's the allegation as I'm reading it here I don't have a %HESITATION a %HESITATION %HESITATION in this fight at all I'm just reading what the allegations are so you see when
00:21:36you look at it like that if they can prove that and they probably can just looking at the way it's laid out it's easy to prove or when a when a sale is transacted that's easy too easy to tell when the phone call was made now I don't
00:21:51know how they how they know the results of that phone call I mean they know what was said who knows they could have been talking about oh I don't know golf in the grand children here is a could be talking about almost almost anything and we don't know
00:22:08so I think it's important to keep an open mind we're not taking a position on this that these are allegations these are charges this is the indictment and the the government has to prove it but you yet you would have to admit that it doesn't look good for
00:22:21Chris no I would I would certainly say that my reaction any of this is just my reaction as a person says well that's logical but as you know as you know a right and wrong has nothing to do with anything in a court of law it's legal and
00:22:39illegal that's all that's that's that's our triumphs everything all right I you know we should the attorney you know we should get a hold of %HESITATION also to speak on this issue is our our friend the former judge yeah and %HESITATION yeah I'll see if we can get
00:22:54her on the line because we talked to a Paul Cambria already and Paul gave us is over view and that was fresh right out of the box and if we can that we we will get all of other people's certainly in our news department is are hard at
00:23:09work at that right now but basically were asking your reaction to it it is your speculation is my speculation the only thing isn't as speculated is the wording on the indictment that's a that's per se let's go to our Pete in Ontario Peter on WBEN you know the
00:23:30back of our minds we knew that this is a possibility now let let's look at something class twenty four hours my friend from really damning about and you know that about the communications with the pop rock the FBI resort all that stuff okay and and and Chris Christie
00:23:50are getting eight oz sixty different back and forth with our resort I need we are we are worst political scandal in American history not modern history completely since that day other grumpy all right and what we're seeing now is anything that could hurt that public opinion they're good
00:24:13if you if Chris called and it's not going to pay the price and I'd just be that we always conservative we always as logical thinkers and and I believe in the American public not only job that was the way of life know that if you want to map
00:24:31you're going to go down but when you're all ideology really rich such as the last it doesn't matter they don't believe like stock in the back of their brain whatever they do is right you can't argue with it whether it be insider trading or try to unseat a
00:24:49sitting president and then and then Florida light box word and let blame other people for stop you get away with it always got away with it but I truly believe god come forward now and he said this is that this is a day of reckoning this is what
00:25:07it's going to have to be all right willow will obviously be involved with it thank you very much we'll take a break and we'll return on newsradio nine thirty if you would like to %HESITATION Texas that's three oh nine three all you can also go to our Facebook
00:25:21page and the the telephone certainly we take phone calls you know three oh nine three OO one eight hundred six one six nine two three six star nine thirty the bottom line of the bottom line was the information the alleged information that was garnered by the son Cameron
00:25:39Collins from his father resulted in trades which by the time the failure of the trial by the company was announced publicly the trades save the sun five hundred and seventy thousand dollars plus it's like five hundred and seventy thousand one hundred dollars those are numbers those are those
00:26:02are I would assume things that the government feels confident that they can prove it will it will say I the only thing in there that I'm I'm thinking that is there some wiggle room is you have a phone call was made yeah the sales were executed but what
00:26:18was said on the phone call unless they had some going to wire tap going on I I mean you can make an assumption that what was said but how do you prove that how do you prove that as I said they could have been talking about golf and
00:26:33their grandchildren for all we know books will be back with more on newsradio nine thirty WB and %HESITATION your knowledge the typical %HESITATION insider trading allegations CNN forfeiture counts where they basically say if you're convicted of weight watchers forfeit all the proceeds so we're kind of going through
00:26:54this %HESITATION indictment as thirty page indictment this is fun going through a thirty page indictment during a commercial stop sad but we're trying to glean the information that we think would be important to the to the discussion of this issue about what we do know is that Chris
00:27:11Collins has been arrested by the FBI he has been indicted by the US attorney he his son and the the son's future father in law for insider trading regarding a company that %HESITATION that sixteen point eight percent was owned by Chris Collins himself and the allegations are insider
00:27:35trading means you you give information which is designed to benefit yourself for friends of your you know people acquaintances before the public has the information and so that could go both ways it could be that this is a this time trial %HESITATION this clinical trial is going to
00:27:55be fabulous and we just got the results and before we announce the fabulous results by some or could be the other way which is what it was this time that the clinical trials of failed and there because of that because of that you better sell and that's exactly
00:28:13what the allegation is that the sun after several calls with %HESITATION the father is sold one million three hundred and ninety thousand five hundred shares and because of that information saved five hundred and seventy thousand dollars so that's about those are the allegations and the you can that
00:28:34kind of a true I'm up and see what you think is this a pull another political witch hunt does it does this have anything to do with Donald Trump will Donald Trump get involved with anything if he if he says anything should he say anything to you you
00:28:50know the drill because we've been through things like this with Donald Trump and keep in mind the connection the Chris Collins is a Chris Collins is the number one first supporter of Donald Trump for his presidency I don't think you're in you're taking a big jump but when
00:29:06you say that there's a possibility that this is a witch hunt considering that it seems like everybody around Donald Trump is being targeted yeah I don't think it's a coincidental and this is just as an observer they're all of a sudden everything around you was allegedly crooked everything
00:29:25around you was illegal everything around you is questionable because just the sheer numbers of things around like that that are alleged even if many of them turn out to be untrue or or losers in the in the actual court not just the court of public opinion there is
00:29:45so much volume to it there's so much weight to it that many people won't even bother waiting through it they'll just accept it and that's part of what it is see there's there's no harm no foul if you if you charge and then you can't prove it %HESITATION
00:30:01the jury or the judge makes a decision after because you've already got your allegations out there and to many people that's all you need you don't even have to prove it because they were hoping something was was wrong anyway we don't know what the case is with this
00:30:16we'll find out as as it unfolds well you know this is charm for ABC CBS love cars you CNN MSNBC everybody around Donald Trump if you even though seeing him in the hallway somewhere you must be a it's cheating somebody robbing somebody abusing somebody because that's just the
00:30:34way that they're all races by yeah they're all races observations to let's go to work Joe online one Joe you're on WBEN yeah I do own their hydro what if I share thoughts on this is we're all speculating together well you know at a time when we have
00:30:52a carpet bagger as president was in fact in the swamp commented that the pricing is first supporter in Congress would be an indicted but if the specialist with the a guy who's had it locked her up placed in handcuffs and I think trump the snacks well you the
00:31:09so you think they're going to you're going to see a picture of Donald Trump handcuffs is that what you said are you still there what season is a big gun so he says it's not surprising that %HESITATION and %HESITATION he's you know if you're stranded locker up that
00:31:30he will be pleased to see other people in handcuffs whatever not that there's a surprise and I told you this is charm they see a call yeah you can see it in the water already let's go to %HESITATION you know one I wonder if the time Hillary Clinton
00:31:47made over a million dollars in the hog odd future's member of a one night I think it was baby may be %HESITATION maybe somebody should look at her or let's see influence that she's our home or have a meeting on the tarmac and everybody thought it was you
00:32:05know I'm toward except we find other we just talking about about their grand children and yet the left is in this area golf a lot of golf cart maybe maybe Chris Collins was teaching his son out of play golf on the phone that said we don't know let's
00:32:22go to %HESITATION Jason and waves all Jason here on WB at yes hi Jason about hi how are you doing I I'm fine thank you what are your thoughts as a problem at all on all this %HESITATION you know Chris towns of guilty at I mean he he
00:32:40should be found guilty but %HESITATION you have to go back seven eight years there was a story on sixty minutes about Nancy Pelosi getting inside information on the other piece %HESITATION when when when it went public and she you know she she scored a quarter of a million
00:33:00dollars on that you know and there was no investigation there so I understand you know it's probably pick and choose as to who who you want to go after with something like insider trading because insider trading is sometimes very difficult to prove us so I'm not out there
00:33:19might be a pecking order there might not I guess we're going to find out if they have if the government has their act together or not if there's a trial one would assume that the we will get to the bottom of it then thank you very much yeah
00:33:33we can though taka insider trading is one of those things well before today okay that it's always how much information was out there and how much of it leaks out there was a difference between insider trading in leaking is an insider trading just a fancy gussied up version
00:33:52of leaking and we certainly aren't surprised at anything leaks in the in Washington so we'll say meanwhile are this is only the insider trading with this one seven two eight eight one is the number you call and the word is vague as in cake it's B. as in
00:34:12beautiful AKP bait send the word break two seven two eight eight one you could win a thousand dollars

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