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Chris Collins’ son pleads guilty to federal charge

The son of former Congressman Chris Collins pleaded guilty to a federal charge Thursday.

Cameron Collins and Stephen Zarsky, the father of his fiance, were in federal court Thursday. Both pleaded guilty to conspiracy to commit securities fraud. Each faces up to five years in prison.

Chris Collins pleaded guilty to federal charges on Tuesday. Prosecutors say he used non-public information from an Australian biotech firm to tip off his son to sell stock in the firm in advance of a failed clinical trial.

At the time, the former member of Congress was a board member of the company. Prosecutors say the tip saved stockholders about $800,000.

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