Facing indictment, GOP Rep. Chris Collins stepping down

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Congressman Stock Indictment_1534000670188

FILE – This Aug. 8, 2018 file photo shows Republican U.S. Rep. Christopher Collins as he leaves federal court in New York. In an about-face, Collins says he will suspend his re-election campaign after insider-trading indictment. (AP Photo/Mary Altaffer, File)

Republican U.S. Rep Chris Collins says he will no longer run for re-election after being charged with insider trading.

Collins said in a statement released Saturday he will suspend his re-election campaign and fill out the rest of his term.

The New York congressman was arrested Wednesday on charges he used inside information about a biotechnology company to make illicit stock trades. He has denied any wrongdoing.

His announcement comes a few days after he said he would remain on the ballot despite the charges.

His statement said he’s ending his campaign in the best interest of his constituents, President Donald Trump and the Republican Party.

A spokeswoman for the New York state Republican party said no decision has been made about a possible replacement for Collins on the ballot.

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