Buffalo, N.Y. - New York Congressman Chris Collins is suspending his re-election bid after being charged with insider trading.
Collins, a long-standing Republican ally of President Trump, announced the move on Twitter yesterday.
Collins was charged last week of taking part in an insider trading scheme involving an Australian biotech company.
He has denied the charges. In a brief statement, Collins said his decision to suspend his campaign was in the best interests of the Republican party and voters in New York.
Republicans hope to find another candidate to tun for the Congressional Seat. At least three Republicans say they are interested in the 27th Congressional District seat. Erie County Comptroller Stefan Mychajliw, former candidate for governor Carl Paladino, and Buffalo radio host David Bellavia have expressed interest in running. Several other elected officials are said to be thinking about it, too. However unless Collins dies, moves out of the state, or is nominated for another office, he cannot be removed from the ballot.
The Democratic Party candidate is Grand Island Town Supervisor Nate McMurry. He says that money has been pouring into his campaign ever since the charges against Collins was announced.