New York Rep. Chris Collins has been arrested by the Federal Bureau of Investigation and is facing insider-trading charges, according to reports Wednesday. Collins, a Republican, was President Donald Trump's earliest backer in Congress. Collins is also accused of lying to the FBI. In October 2017, a congressional watchdog said Collins may have broken federal law when he took actions to help Australian biotech Innate Immunotherapeutics INNMF, -8.81% , in which he held a big stake. A court document also shows a Securities and Exchange Commission lawsuit against Collins as well as two other defendants, including his son Cameron.