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Rep. Collins, says the insider trading charges are “meritless’
Republican Congressman says will not step down, and the mid-term elections to remain on the ballot in November.
Rep. Chris Collins, R-state of New York, said on Saturday that he is suspending his re-election campaign-just days after he was indicted on insider-trading charges.
“Democrats are laser focused on the redemption of, the house, the choice of Nancy Pelosi from the speaker, then start impeachment proceedings against President Trump,” Collins said in a statement. “You would like nothing more than to the choice of the ‘charges Trump’ a Democrat in this district, this is something that neither our country or my party can afford it.”
Collins has announced on Wednesday, along with his son, and the father of his son’s fiancee was named in the indictment. The fraud counts related to securities held by an Australian biotechnology company called Innate immune therapeutics, where the 68-year-old Congressman served on the board.
“Christopher Collins, the defendent violated the duties he owes, Congenital, due to transfer of material, non-published information about the drug trial results, to his son, Cameron Collins, the defendent, so that [his son] could use this information in a timely trades in the Innate floor and top of the other,” the indictment States. “Cameron Collins traded Insider information and handed it to Stephen Zarsky.”
NEW YORK REP. CHRISTOPHER COLLINS INDICTED ON INSIDER-TRADING CHARGES
The charges include fraud, multiple counts of securities, together with a count of wire fraud, one count of conspiracy to commit wire fraud and one count each of making false statements. All three defendents pleaded not guilty.
On Wednesday, Collins said the charges were “meritless” and said that he would remain on the ballot for re-election.
Rep. Chris Collins (@RepChrisCollins) August 11, 2018
But on Saturday, he said that after discussions with family and friends, that he had decided it was in the best interests of his constituents, the GOP, and President of the Trump for its suspension of the campaign.
“I’m going to fill up the remaining months of my term to ensure that our community maintains its votes in Congress to support President Trump’s agenda to create jobs, regulations to eliminate, reduce the size of government, address immigration, and lower taxes,” he said in the statement.
He added that he be compensated in the fight against the “meritless” against him and were happy.
Collins, New York, 27th District, serving since 2013, and ran freely in the Republican primary for what is largely considered a safe Republican seat. He is challenged by Democrat Nate McMurray.
Fox News’ Andrew O’reilly, Nicole, Darrah, and The Associated Press contributed to this report.
Adam Shaw is a reporter covering the American and European politics for Fox News.. He can be reached.