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Chris Collins being reviewed by House Committee on Ethics

Collins (R, NY-27) has been scrutinized for several months in regards to allegations of insider trading for an Australian biotech firm. (WHAM photo)

Washington, D.C. (WHAM) - The U.S. House Committee on Ethics announced Thursday it will be investigating Rep. Chris Collins.

Collins (R, NY-27) has been scrutinized for several months in regards to allegations of insider trading for an Australian biotech firm.

Collins is the majority shareholder for Innate Immunotherapeutics, a company that Congressman Tom Price bought stock in last summer after talking with Collins. Both men are now facing questions about it.

In a report issued by the Board of the Office of Congressional Ethics, a preliminary review of the allegations against Collins "recommends that the Committee on Ethics further review the above allegation because there is a substantial reason to believe that Representative Collins shared material nonpublic information in the purchase of Innate stock, in violation of House rules, standards of conduct, and federal law."

The full report on the allegations against Collins can be read here.

13WHAM News will continue to update this story as more information becomes available.

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