Rep. Chris Collins Says He Will Not Seek Re-Election After Insider Trading Charges
New York Republican Rep. Chris Collins will not seek a fourth term in Congress after being indicted on insider trading charges Wednesday, the congressman said Saturday morning.
Collins had previously said he would clear his name and stay on the ballot, reported Politico.
“I will fill out the remaining few months of my term to assure that our community maintains its vote in Congress to support President Trump’s agenda to create jobs, eliminate regulations, reduce the size of government, address immigration and lower taxes,” Collins said in a statement Saturday according to the Buffalo News. “I will also continue to fight the meritless charges brought against me and I look forward to having my good name cleared of any wrongdoing.”
Collins and two others face charges of securities fraud, wire fraud and lying to investigators after Collins allegedly used his position on the board of an Australian pharmaceutical company to save his family “more than $768,000 in losses after a failed drug trial in the summer of 2017.” (RELATED: Media Coverage Of Rep. Chris Collins’ Indictment Vs. Sen. Menendez’s Trial)
Collins, his son Cameron Collins and Stephen Zarsky, Cameron Collins’ fiancé’s father, are included in the indictment over shares in Australian company Innate Immunotherapeutics.
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