Cameron Collins had confirmed he received the information from his father and knew it was “wrong and illegal.” "I truly regret my conduct", said Collins in a previous court appearance.
Prosecutors had said Chris Collins conspired with family members to claim Cameron Collins and friends sold shares because they were spooked by a temporary halt in the trading of the stock rather than because they knew the stock price would fall 92% for the company headquartered in Sydney, Australia, with offices in Auckland, New Zealand.
Just last week the elder Collins was sentenced to 26 months in prison for the insider trading scheme that led to his arrest and resignation from Congress.