Write For Us

Facing federal charges, Rep. Chris Collins suspends re-election bid


Rep. Chris Collins, shown here at the Republican National Convention at Quicken Loans Arena in Cleveland, Ohio, in 2016, has announced he will not seek re-election this fall. File Photo by Pat Benic/UPI

By Sam Howard, UPI

Chris Collins, a Republican congressman from western New York, announced Saturday he would suspend his re-election campaign in light of insider trading charges he's facing in federal court.

Although Collins pledged to "fight the meritless charges," the congressman said in a statement he would suspend his re-election campaign because he believed doing so would be "in the best interests of the constituents of" his district.

[post_ads]"[Democrats] would like nothing more than to elect an 'Impeach Trump' Democrat in this District, which is something that neither our country or my party can afford," Collins said. He pleaded not guilty Wednesday in federal court to 13 counts of securities fraud, wire fraud and false statements.

The charges relate to Collins' past role as a board member of Australian biotech company Innate Immunotherapeutics. Last fall, a congressional probe determined there was "a substantial reason to believe" Collins promoted the company's stock using insider information -- a violation of federal law. It made a similar determination about Collins' 2013 request to staff at the National Institutes of Health to meet with Innate Immunotherapeautics about clinical trial designs.

An indictment alleges Collins told his son, also charged, about a trial failure for a drug meant to treat multiple sclerosis. The son, Cameron Collins, then traded on that information and alerted someone else who made a trade, the indictment says. Collins, his son and the third individual, Stephen Zarsky, avoided $768,000 in losses, according to the indictment.

Collins has defended his innocence.

"I believe I acted properly and within the law at all times," Collins said. "Throughout my tenure in Congress, I have followed all rules and ethical guidelines.


Note: If you think this story need more information or correction, feel free to comment below your opinion and reaction.
Like & Follow to Stay Updated ...


Alabama,1,Arizona,1,Barack,1,California,3,Colorado,1,Connecticut,1,Crime,531,Florida,1,Franc,1,Hawaii,8,Illinois,1,Los Angeles,2,Massachusetts,3,Mississippi,1,New York,130,U.S.,1558,Washington,4,
U.S. - U.S. Daily News: Facing federal charges, Rep. Chris Collins suspends re-election bid
Facing federal charges, Rep. Chris Collins suspends re-election bid
U.S. - U.S. Daily News
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy