Here at Dealbreaker dot com, we've been trying to get away from all the recent political chaos stuff and go back to what do at our mediocre best: Stupid venal behavior involving money by people who should know better.

Oh, here's some fun insider trading news...

Disgraced upstate Republican Rep. Chris Collins resigned from Congress on Monday — a day before he was expected to plead guilty in Manhattan federal court to insider trading charges.

Dammit! Foiled again!

What did this guy do that would lead to him resign from Congress and not just cut a deal with the SEC for like a short-term ban from legislating? After all, it's just a little light insider trading...

The case centers around an Australian biotech company, Immunotherapeutics, where the lawmaker served as a member of its board of directors.

Prosecutors claim Collins called his son with an inside stock tip after the company failed a key drug trial.

Cameron allegedly dumped his stock and passed the news to [co-defendant Stephen] Zarsky, leading him to sell off his shares too.

The trio faced a slew of fraud, wire fraud, securities fraud and related charges.

Well, maybe this makes sense. Anyone capable of thinking they could get away with a scheme this simplistically dumb should probably step away from Congress, but when Collins gets out of prison, he should definitely take the Series 7.

Rep. Chris Collins resigns from Congress ahead of guilty plea [NYPost]

Related

capitol2

House Bill Invents Insider Trading, Bans It

This may seem an unnecessary bit of legislative masturbation, but it’s not!

FBI Arrests Martin Shkreli On Fraud Charges, Because Karma Isn't A Statute

The hedge fund manager turned pharma CEO should have "turned" more carefully.

Martin Shkreli

Martin Shkreli "Didn't" Call The WSJ From Prison To Remind Everyone That He Is Still Doing Crimes

Giving a thinly-veiled anonymous interview on a contraband cellphone to brag about how he is illegally running a pharma business from prison reminds us why we miss this guy.

chriscollins

First Congressman To Endorse Trump Sentenced To Two-Plus Years For Other, Less Serious Crimes

What’s insider trading compared to that stain on one’s conscience?

Martin Shkreli Can't Shut Up About Shutting Up

Maybe M-Shkrels should make "Pleading The Fifth" into a lifestyle.