Rep. Chris Collins suspends offer for re-election after insider trading charges
If Mr. Collins is removed from office, local party leaders, not the voters, will select the Republican candidate. Other candidates are expected to compete for the nomination.
Democrats hope to use the details of the charges against Mr. Collins described in the indictment to help paint both the Trump administration and Republican-controlled Congress with the broad spectrum of a “culture of corruption.” “.
“I respect Chris Collins’ decision to resign as he faces these serious allegations,” Rep. Steve Stivers, Republican of Ohio and chairman of the House Republican campaign committee, said in a statement. “As I said before, Congress needs to stick to the highest standard possible.”
While no other congressional lawmakers have been charged with wrongdoing related to Innate Immunotherapeutics, five other Republican congressmen also bought shares of the company in January 2017: John Culberson of Texas; Michael K. Conaway from Texas; Doug Lamborn of Colorado; Billy Long from Missouri; and Markwayne Mullin from Oklahoma. Mr. Long and Mr. Mullin sit on the same health subcommittee of the House Energy and Trade Committee as Mr. Collins.
Geoffrey S. Berman, the United States attorney in Manhattan who announced the indictment, declined to say whether other lawmakers are currently under investigation. “No comment,” he said Wednesday after the charges against Mr. Collins were announced.
Innate’s question first surfaced to the public a year and a half ago, when it was revealed that Tom Price, Mr. Trump’s candidate for secretary of the Department of Health and Human Social Services, had received preferred shares of the pharmaceutical company, in which Mr. Collins was the major shareholder.
Mr. Price resigned last September in an unrelated scandal about his use of charter flights.
Mr Collins had previously faced an ethical probe in Congress for his dual role as a congressman and investor in Innate, which was testing an experimental treatment for multiple sclerosis.
Announcing the arraignment of Mr Collins, Mr Berman said: “Congressman Collins, who by virtue of his office helps to draft the laws of our nation, acted as if the law did not apply. to him ”.