FILE - In this July 19, 2016 file photo, Rep. Chris Collins, R-NY. speaks in Cleveland. Collins was indicted on charges that he used inside information about a biotechnology company to make illicit stock trades. The charges were announced and the indictment unsealed on Wednesday, Aug. 8, 2018. (AP Photo/J. Scott Applewhite, File)

House speaker boots indicted lawmaker from committee

August 08, 2018 - 11:11 am

WASHINGTON (AP) — Speaker Paul Ryan says he's removing an indicted congressman from the House Energy and Commerce Committee. He's also prodding his chamber's ethics panel to pursue "a prompt and thorough investigation" of the lawmaker.

Ryan issued his statement Wednesday after federal prosecutors charged Republican Rep. Chris Collins of upstate New York with insider securities trading.

Ryan calls insider trading "a clear violation of the public trust." He says he's moving against Collins even though a court will decide whether the lawmaker is guilty of the allegations.

The House Ethics Committee said last August that it was investigating Collins. The advocacy group Public Citizen had claimed he was potentially involved in insider trading of shares of Innate Immunotherapeutics, which was experimenting with a drug for treating multiple sclerosis.

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