Republican U.S. Representative Chris Collins decided to suspend his campaign for re-election as he fights insider trading charges.
In a statement Saturday, Collins said, “After extensive discussions with my family and my friends over the last few days, I have decided that it is in the best interests of the constituents of NY-27, the Republican Party and President Trump’s agenda for me to suspend my campaign for re-election to Congress.”
In addition, the embattled Republican lawmaker stated that he will continue serving in Congress until the end of his term. He also reiterated that the allegations against him are “meritless” and said he will fight to clear his name.
The embattled Republican lawmaker completely changed his position from a few days ago when he vowed to “remain on the ballot.”
Allegations against Collins
On Wednesday, federal prosecutors filed criminal charges against Collins, his son Cameron Collins and another defendant named Stephen Zarsky. The charges against them included insider trading, conspiracy, securities fraud, wire fraud and lying to the FBI.
