The son of disgraced former Congressman Chris Collins admitted Thursday to taking part in an insider trading scheme kicked off by his dad.
Cameron Collins pleaded guilty to a single charge of conspiracy to commit securities fraud, just two days after his father copped to charges in the case and announced his resignation as representative for New York’s 27th District.
Collins admitted to dumping his stocks after getting a call from his father, who served on the board of an Australian biotech firm, informing him of a failed drug trial.
The 26-year-old also confessed to calling the father of his then-fiancee, Stephen Zarsky, to share the stock tip.
Later Thursday, Zarsky also pleaded guilty a single charge of conspiracy to commit securities fraud.
Both men declined comment as they left court. Collins’s sentencing is scheduled for Jan. 23, while Zarsky faces sentencing on Jan. 24.
They each face up to five years in prison.
