Rep. Collins Ends Re-Election Bid After Indictment

In an about-face, U.S. Rep. Chris Collins (R-NY) is ending his re-election bid days after he was charged with insider trading. He was indicted Wednesday on charges he passed inside information about a biotechnology company to family members so they could profit from illicit trades. Collins had said he would remain on the ballot and fight the charges.

In an about-face, U.S. Rep. Chris Collins (R-NY) is ending his re-election bid days after he was charged with insider trading, the Associated Press reports. Collins was indicted Wednesday on charges he passed inside information about a biotechnology company to family members so they could profit from illicit trades. He had said he would remain on the ballot and fight the charges. Collins, who stays he will remain in office, reversed himself Saturday. He denied wrongdoing. Collins’ decision to end his re-election bid appeared to boost Democrats’ chances of taking in a solidly Republican district.

The indictment charges Collins and two others, including his son, with conspiracy, wire fraud and other counts. Prosecutors say the charges relate to a scheme to gain insider information about a biotechnology company headquartered in Australia. It is unclear whether Collins’ name can be removed from the November ballot at this point and whether Republican Party officials will be able to nominate another candidate for the seat. The area backed Donald Trump over Hillary Clinton by nearly 25 percentage points in 2016, when Collins beat his Democratic challenger by more than 2-1. Collins was an early supporter of Trump’s presidential campaign and has been one of Trump’s most ardent defenders. House Democratic Leader Nancy Pelosi said Collins should resign immediately.

from https://thecrimereport.org