Corruption charges have just hit home for one of President Donald Trump’s allies within the GOP.
Rep. Chris Collins (R-NY) has announced the suspension of his campaign amid a criminal indictment.
Changing His Tune
Only days ago, Collins sounded as though he was going to fight these charges tooth and nail.
But while still saying he will be contesting the charges, the congressman has now decided to pull out of his re-election bid.
“After extensive discussions with my family and my friends over the last few days, I have decided that 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,” he said.
Even though he will not be seeking re-election, Collins said he will continue to serve out his current term.
— Rep. Chris Collins (@RepChrisCollins) August 11, 2018
Collins is being accused of insider trading.
The accusations against him involve an Innate Immunotherapeutics trade.
According to reports, after testing failed for a new drug, Collins urged his son to sell off the stock.
But at the time, Collins was one of the company’s largest stockholders and a board member.
The information about the failed testing had also not yet been made public.
Still, Collins has been behind Trump from day one.
In fact, Collins was the first member of Congress to announce his support for Trump during the election.
Much like Trump, Collins has a reputation for being very stubborn.
However, it is believed party members were finally able to convince Collins that not stepping down would hurt both the GOP and the Trump administration in its efforts to keep Congress in control of Republicans.