Western New York Republican Congressman Chris Collins has suspended his campaign for re-election days after he was indicted for insider trading.
Calling the charges brought against him Wednesday by U.S. Attorney for the Southern District of New York Geoffery Berman "meritless", Collins said in a statement Saturday that it "is in the best interests of the constituents of NY-27, the Republican Party and President Trump's agenda" to suspend his campaign for a fourth term.
The Republican also took swipes at the Democratic Party, whom he claimed "would like nothing more than to elect an 'Impeach Trump' Democrat in this district."
Collins, an investor in an Australian biotechnology company, is facing charges after allegedly sharing with his son inside information about a failed drug trial.
Authorities say Collins, his son, and others who received the information then sold their stock in the company before news of the failed trial was made public, avoiding approximately $768,000 in losses.
