Politicspolitics

Mon Jan 13, 2020, 02:44 PM

Department of Justice recommends throwing the book at Republican Congressman

And he was the first member of Congress to endorse Donald Trump for president too. Poor guy, he was unlucky in drawing a judge appointed by Barack Obama. So maybe a pardon? White collar crime, first time offender.

From Fox News: "DOJ recommends maximum sentence for former GOP Rep. Chris Collins"

The Department of Justice is recommending that former Republican Rep. Chris Collins of New York receive a maximum sentence for his conviction on one count of conspiring to commit securities fraud, which was the result of a guilty plea last October the day after he resigned from Congress.

Collins is scheduled to be sentenced in a Manhattan federal courtroom on Jan. 17, and his plea agreement, along with a Presentence Investigation Report, provided a sentencing range of 46 to 57 months in prison. The DOJ recommended a sentence Monday at the maximum end -- or around four-and-a-half years.

"The Government believes that a sentence at the top end of the Guidelines range is necessary in order to satisfy the objectives of Title 18 United States Code, Section 3553(a), and in particular to promote respect for the law, to provide just punishment for the offense, and to achieve general deterrence," prosecutors with the Southern District of New York said in a letter to U.S. District Court Judge Vernon S. Broderick.

Collins' conviction followed an indictment on charges related to insider trading allegations, as prosecutors said he provided non-public information about biotechnology company Innate -- for which he sat on the board -- to his son Cameron, tipping him off that a drug the company was working on had failed a trial so that Cameron could sell his shares before the stock price went down. Collins was a sitting congressman at the time and was at a Congressional Picnic at the White House when he learned the news, prosecutors said.

Collins was also accused of lying about this to investigators.

Prosecutors said it does not matter that Collins himself did not profit from any of this.

"Collins was not able to trade his own shares because they were tied up with a transfer agent," prosecutors said in their letter (emphasis in original). "He did the next best thing, which was to tip Cameron."
(EXCERPT)
https://www.foxnews.com/politics/doj-recommends-max-sentence-for-former-rep-chris-collins


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Arrow 16 replies Author Time Post
Reply Department of Justice recommends throwing the book at Republican Congressman (Original post)
jh4freedom Jan 13 OP
Charlie Mike Jan 13 #1
jh4freedom Jan 13 #5
DavesNotHere Jan 13 #14
nolidad Jan 13 #2
jh4freedom Jan 13 #6
quad489 Jan 13 #3
GoldwatersSoul Jan 13 #4
jh4freedom Jan 13 #7
GoldwatersSoul Jan 13 #12
jh4freedom Jan 13 #13
GoldwatersSoul Jan 14 #15
Oldgeezer Jan 13 #8
jh4freedom Jan 13 #10
Oldgeezer Wednesday #16
Pennsylvania Jan 13 #9
jh4freedom Jan 13 #11

Response to jh4freedom (Original post)

Mon Jan 13, 2020, 03:47 PM

1. Republican administrations are far more ethical about taking out their trash than democrats

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Response to Charlie Mike (Reply #1)

Mon Jan 13, 2020, 04:55 PM

5. Prosecutions of politicians while Eric Holder or Loretta Lynch was Attorney General

Mark D. Siljander (R-MI) was convicted of obstruction of justice.
Laura Richardson (D-CA) was found guilty on seven counts of violating US House rules by improperly using her staff to campaign for her, destroying the evidence and tampering with witness testimony. The House Ethics Committee ordered Richardson to pay a fine of $10,000.
Jesse Jackson Jr. (D-IL) pleaded guilty February 20, 2013, to one count of wire and mail fraud in connection with his misuse of $750,000 in campaign funds. Jackson was sentenced to two-and-one-half years' imprisonment.
Rick Renzi (R-AZ) was found guilty on 17 of 32 counts against him June 12, 2013, including wire fraud, conspiracy, extortion, racketeering, money laundering and making false statements to insurance regulators.
Trey Radel (R-FL) was convicted of possession of cocaine in November 2013. As a first-time offender, he was sentenced to one year probation and fined $250. Radel announced he would take a leave of absence, but did not resign. Later, under pressure from a number of Republican leaders, he announced through a spokesperson that he would resign.
Michael Grimm (R-NY) pleaded guilty of felony tax evasion. This was the fourth count in a 20-count indictment brought against him for improper use of campaign funds. The guilty plea had a maximum sentence of three years; he was sentenced to eight months in prison.
Dennis Hastert (R-IL) Speaker of the United States House of Representatives pleaded guilty in court for illegally structuring bank transactions related to payment of $3.5 million to quash allegations of sexual misconduct with a student when he was a high school teacher and coach decades ago.
Chaka Fattah (D-PA) was convicted on 23 counts of racketeering, fraud, and other corruption charges.
Corrine Brown (D-FL) was indicted and later convicted on 18 felony counts of wire and tax fraud, conspiracy, lying to federal investigators, and other corruption charges.
Anthony Weiner (D-NY) was indicted and later convicted of sending sexually explicit photos of himself to a 15-year-old girl and was made to sign the sexual offenders register. He also was sentenced to 21 months in prison, a charge that was later reduced to 18 months. He reported to prison in November 2017.
Steve Stockman (R-TX) was indicted and later convicted of fraud.

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Response to jh4freedom (Reply #5)

Mon Jan 13, 2020, 11:20 PM

14. Funny thing...

Mark D. Siljander (R-MI) was indicted in January 2008.
Laura Richardson (D-CA) was fined by the House Ethics committee. She was not actually prosecuted by anyone.
Jesse Jackson Jr. (D-IL) served less than 2 years for essentially embezzling $750k
Rick Renzi (R-AZ) was originally indicted in 2008, not by Holder or Lynch.
Trey Radel (R-FL) plead guilty to a misdemeanor and received no jail time.
Michael Grimm (R-NY) served 7 months for felony tax evasion.
Dennis Hastert (R-IL) served only 13 months structuring his withdrawals.
Chaka Fattah (D-PA) did get 10 years.
Corrine Brown (D-FL) left office after losing the election in 2016, and was actually prosecuted in 2017 (though Lynch did indict her)
Anthony Weiner (D-NY) As of Jan 30th, 2017, the Federal government had STILL not charged him with anything yet. By May he had turned himself in for a plea deal.
Steve Stockman (R-TX) was arrested in March of 2017

So of the list you provided of 11 people, 6 were not indicted by Lynch or Holder, and 1 of those was not indicted at all (despite what wiki says, Richardson was never charged with anything by the justice department as far as I can tell).

Of the other 5, one of them served NO jail time.

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Response to jh4freedom (Original post)

Mon Jan 13, 2020, 03:57 PM

2. do the crime--do the time!

Just wish this would happen in teh same % to democrats!

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Response to nolidad (Reply #2)

Mon Jan 13, 2020, 05:06 PM

6. You're right

It does seem that more Republicans are getting convicted these days. Plenty of Democrats have been under investigation (Horowitz investigation, Huber investigation, Durham investigation) but thus far, no criminal charges.

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Response to jh4freedom (Original post)

Mon Jan 13, 2020, 04:09 PM

3. ''insider trading''...GOOD! It's BS that those congress critters were able to do that since 1934...

...until the public bashed congress passed a veto proof bill in 2012.

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Response to quad489 (Reply #3)

Mon Jan 13, 2020, 04:30 PM

4. Everyone....

Should be able to engage in insider trading.

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Response to GoldwatersSoul (Reply #4)

Mon Jan 13, 2020, 05:12 PM

7. As long as the insider trade is reported to the SEC

its legal.

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Response to jh4freedom (Reply #7)

Mon Jan 13, 2020, 10:08 PM

12. I see no reason...

To do even that.

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Response to GoldwatersSoul (Reply #12)

Mon Jan 13, 2020, 10:35 PM

13. Then feel free to...

Go to jail. Go directly to jail. Do not pass Go. Do not collect $100. In accordance with the U.S. Code: 15 U.S.C., Chapter 2A - Securities Act of 1933: Insider trading is the trading of a company’s stocks or other securities by individuals with access to confidential or non-public information about the company. Taking advantage of this privileged access is considered a breach of the individual’s fiduciary duty.

A company is required to report trading by corporate officers, directors, or other company members with significant access to privileged information to the Securities and Exchange Commission (SEC) or be publicly disclosed. Federal law defines an “insider” as a company’s officers, directors, or someone in control of at least 10% of a company’s equity securities. Congress has criminalized these insiders’ use of non-public information under the theory that the use fraudulently violates a fiduciary duty with which the company has charged the insider. From an economic public policy perspective, scholars consider insider trading socially undesirable because it increases the cost of capital for securities traders and therefore depresses economic growth. The Insider Trading Sanction Act of 1984 and the Insider Trading and Securities Exchange Act of 1988 provide for insider trading penalties to surpass three times the profits gained from the trade.

Problems also exist with regard to insiders “tipping” friends about non-public information that may influence the company’s publicly-traded stock price. Because friends do not satisfy the definition of an insider, a problem arose regarding how to prosecute these individuals. Today, a friend who receives such a tip becomes imputed with the same duty as the insider. In other words, a friend must not make a trade based upon that privileged information. Failure to abide by the duty constitutes insider trading and creates grounds for prosecution. The person receiving the tip, however, must have known or should have known that the information was company property to be convicted.

Dirks v. SEC proved a pivotal U.S. Supreme Court decision regarding this type of insider trading. In Dirks, the Court held that a prosecutor could charge tip recipients with insider trading liability if the recipient had reason to believe that the information’s disclosure violated another’s fiduciary duty and if the recipient personally gained from acting upon the information. 463 U.S. 646 (1983). Dirks also created the constructive insider rule, which treats individuals working with a corporation on a professional basis as insiders if they come into contact with non-public information. Id.

The recent emergence of the misappropriation theory of insider trading has paved the way for passage of 17 CFR 240.10b5-1, which permits criminal liability for an individual who trades on any stock based upon the misappropriated information. Previously, the prosecutor could only charge the insider if the stock of the insider’s company had been traded. While proof of insider trading can be difficult, the SEC actively monitors trading, looking for suspicious activity. See United States v. O’Hagan, 521 U.S. 642 (1997). Under §10b5-1, however, a defendant can assert an affirmative preplanned trade defense.

The U.S. Supreme Court expounded on 10(b) in a pair of cases. In 2007, Tellabs, Inc. v. Makor Issues & Rights, LTD determined the requisite specificity when alleging fraud. With Congress requiring sufficient facts from which "to draw a strong inference that the defendant acted with the required state of mind," the Supreme Court determined that a "strong inference" means a showing of "cogent and compelling evidence." In the 2007-2008 term, the Supreme Court determined that 10(b) does not provide non-government plaintiffs with a private cause of action against aiders and abettors in securities fraud cases, either explicitly or implicitly. See Stoneridge v. Scientific-Atlanta, 443 F. 3d 987 (2008).
https://www.law.cornell.edu/wex/insider_trading

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Response to jh4freedom (Reply #13)

Tue Jan 14, 2020, 08:04 AM

15. Way to go dipshit....

My point is there is no reason for that law. Nor most laws of malum prohidium. Democrats of course disagree because they cant give up control. Democratic men act like women in all things.

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Response to jh4freedom (Original post)

Mon Jan 13, 2020, 05:46 PM

8. The exact opposite of what a Dem DoJ would do....to a dem....

Good job DoJ...

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Response to Oldgeezer (Reply #8)

Mon Jan 13, 2020, 06:53 PM

10. Not really

During the Obama Administration:
(1) General David Petraeus, President Obama's Director of the Central Intelligence Agency was sentenced as the result of a plea bargain to two years' probation plus a fine of $100,000 for providing classified information to Lieutenant Colonel Paula Broadwell.

(2) Thomas Porteous appointed by Bill Clinton as Judge of the United States District Court for the Eastern District of Louisiana, was convicted of perjury. He was also impeached, convicted by the Senate and removed from office.

(3) Illinois Democratic Congressman Jesse Jackson Jr. and wife Sandi signed plea agreements in February 2013. Jackson Jr. agreed to plead guilty to charges of fraud, conspiracy, making false statements, mail fraud, wire fraud, and criminal forfeiture—having used about $750,000 in campaign money for over 3000 personal purchases that included a Michael Jackson fedora and cashmere capes.
The Obama Justice Department filed the charges and Jackson pleaded guilty to one count of wire and mail fraud in connection with his misuse of $750,000 of campaign funds. Federal prosecutors sought a four-year prison sentence for Jackson. Jackson was sentenced to 30 months in federal prison,while wife Sandi was sentenced to 12 months in prison for filing false tax returns in attempt to conceal the crimes. The two sentences did not run concurrently.

(4) Pennsylvania Democratic Congressman Chaka Fattah Fattah and four of his associates were indicted by the Eric Holder Justice Department for their roles in a racketeering conspiracy involving several schemes that were intended to further the political and financial interests of the defendants and others by, among other tactics, misappropriating hundreds of thousands of dollars of federal, charitable and campaign funds. The FBI alleged that Fattah accepted an $18,000 bribe from a man seeking an ambassadorship.
Fattah was convicted of all charges, including racketeering conspiracy, bribery, bank fraud, mail fraud, money laundering, making false statements to a financial institution, and falsification of records. He announced his immediate resignation from Congress two days later, on June 23. Fattah was sentenced to 10 years in prison.

(5) In 2016 Florida Democratic Congresswoman Corrine Brown and her chief of staff, pleaded not guilty to a 22 count federal indictment in relation to a non-profit charity, One Door for Education Foundation. The indictment included charges of participating in a conspiracy to commit mail and wire fraud, multiple counts of mail and wire fraud, concealing material facts on required financial disclosure forms, theft of government property, obstruction of the Internal Revenue Service laws, and filing false tax returns.
Obama Administration federal prosecutors alleged the charity was to give scholarships to underprivileged students, but instead acted as the personal slush fund for Brown and her associates. The indictment said that Brown and Simmons "filled the coffers of Brown and her associates" with One Door donations for their personal and professional benefit, totaling $800,000, much of which was deposited in cash to Brown's personal bank accounts.
Brown was convicted on 18 of 22 corruption charges ranging from mail fraud to filing a false federal tax return.
She was sentenced to five years in prison and ordered to pay restitution.

(6) In 2016 New York Democratic Congressman Anthony Weiner was investigated by the Loretta Lynch Justice Department due to the Daily Mail publishing an article claiming that Weiner had engaged in sexting with a 15-year-old girl from North Carolina, and devices owned by Weiner were seized as part of the investigation into this incident. The report prompted a criminal investigation and Weiner's laptop was seized. Emails that were pertinent to the Hillary Clinton email controversy were discovered on the laptop; this prompted FBI Director James Comey to reopen that investigation 11 days before the 2016 US presidential election.
On January 31, 2017, The Wall Street Journal reported that federal prosecutors were weighing whether or not to bring child pornography charges against Weiner over the incident. On May 19, 2017, The New York Times reported in its online edition that Weiner had surrendered to the FBI that morning. Under a plea agreement, he intended to plead guilty to a single charge of transferring obscene material to a minor. Under the agreement, Weiner faced a sentence of 21 to 27 months in federal prison and would be required to register as a sex offender. At his sentencing hearing on September 25, 2017, presiding judge Denise Cote sentenced Weiner to 21 months in prison, beginning on November 6, 2017 with an additional three years of supervision following his prison term.
Wikipedia https://en.wikipedia.org/wiki/List_of_American_federal_politicians_convicted_of_crimes





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Response to jh4freedom (Reply #10)

Wed Jan 15, 2020, 11:56 AM

16. I knew you couldn't resist. I got you to show criminality of Dems during Obama....damn that was easy

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Response to jh4freedom (Original post)

Mon Jan 13, 2020, 06:05 PM

9. Trust the plan

Indictments. 2019. - Q

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Response to Pennsylvania (Reply #9)

Mon Jan 13, 2020, 07:00 PM

11. Hey, there were LOTS of indictments in 2019

George Papadopoulos, Paul Manafort and Rick Gate, Michael Flynn, Richard Pinedo, Alex van der Zwaan, Internet Research Agency, et al., Konstantin Kilimnik, Viktor Netyksho, et al., Michael Cohen, Roger Stone, Michael Cohen,
Sam Patten, Greg Craig, Maria Butina, George Nader, Stephen Calk, Paul Manafort, Bijan Kian, Kamil Ekim Alptekin, Elena Khusyaynova, Natalia Veselnitskaya, Paul Erickson, Lev Parnas and Igor Fruman.

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