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Disgraced US congress member Chris Collins to serve 26 months in prison for insider trading

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Former Rep. Chris Collins, R-N.Y. has been sentenced to 26 months in prison after he pleaded guilty to insider trading charges. He had resigned from the US Congress last year.

Collins spoke in court Friday, apologizing to his family and constituents.

“I stand here today as a disgraced former member of Congress,” he said. “My life has been shattered.”

The Department of Justice had recommended Collins receive the maximum sentence for his conviction on one count of conspiring to commit securities fraud. But U.S. District Court Judge Vernon S. Broderick sentenced Collins to a lesser sentence than the guideline of 46 to 57 months. The former congressman was ordered to report to the federal prison in Pensacola, Fla. on March 17.

Collins’ attorneys had bid for a sentence of probation, with a term of home confinement, community service and a substantial fine. They cited his contrition, advanced age, charitable works and a low chance that he would commit any more crimes.

“Society, as a whole, will gain no benefit from incarcerating a 69-year-old husband, father, and grandfather,” the sentencing memo said.

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