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Rep. Chris Collins. Photo: Bill Clark/CQ Roll Call

Rep. Christopher Collins (R-NY), one of the first members of Congress to support President Trump, was arrested on Wednesday morning for "charges tied to securities fraud," NBC News reports.

The details: Collins surrendered himself to the FBI earlier on Wednesday. He's being charged along with his son, Cameron Collins, and his son's fiancée's father, Stephen Zarsky. The case is related to Australian biotech company Innate Immunotherapeutics Limited, of which the congressman was on the Board of Directors, the indictment states.

  • Collins is expected to appear in federal court in New York later on Wednesday, NBC reports.
  • The congressman's attorneys said in a statement, per NBC: "We will answer the charges filed against Congressman Collins in Court and will mount a vigorous defense to clear his good name. ... We are confident he will be completely vindicated and exonerated."
  • Speaker Paul Ryan announced that Collins would be removed from the House Energy and Commerce Committee until the matter is settled and face an investigation from the House Ethics Committee.

The charges:

  • Christopher Collins: 7 counts of securities fraud, conspiracy to commit wire fraud, wire fraud, and making false statements.
  • Cameron Collins: 7 counts of securities fraud, conspiracy to commit wire fraud, wire fraud, and making false statements.
  • Stephen Zarksy: 4 counts of securities fraud, conspiracy to commit wire fraud, wire fraud, and making false statements.

The full indictment:

Go deeper

2 hours ago - Politics & Policy

Bipartisan group of senators seeks coronavirus stimulus deal

Sens. Joe Manchin (D-W.V.) and Susan Collins (R-Maine). Photo: Drew Angerer/Getty Images

At least eight Republican and Democratic senators have formed an informal working group aimed at securing new coronavirus spending during the lame-duck session, a move favored by President-elect Biden, two sources familiar with the group tell Axios.

Why it matters: It may be the most significant bipartisan step toward COVID relief in months.

FCC chairman to depart in January

FCC Chairman Ajit Pai. Photo: Alex Wong/Getty Images

Ajit Pai will leave his post as chairman of the Federal Communications Commission on Jan. 20, the agency said today.

Why it matters: Pai's Inauguration Day departure is in keeping with agency tradition, and could set up the Biden administration with a 2-1 Democratic majority at the FCC if the Senate fails to confirm another Trump nominee during the lame-duck period.

Ben Geman, author of Generate
3 hours ago - Economy & Business

GM's shrinking deal with Nikola

Illustration: Rebecca Zisser/Axios

General Motors will no longer take an equity stake in Nikola Corp. or build its pickup truck, under a revised deal that still envisions GM as a key tech supplier for Nikola's planned line of electric and fuel cell heavy trucks.

Driving the news: The revised agreement Monday is smaller in scope than a draft partnership rolled out in September that had included a $2 billion stake in the startup and an agreement to build its Badger pickup.