U.S. lawmaker charged with insider trading halts re-election bid

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U.S. lawmaker charged with insider trading halts re-election bidU.S. lawmaker charged with insider trading halts re-election bid

WASHINGTON (Reuters) – U.S. Representative Chris Collins, a Republican ally of President Donald Trump who has been charged with taking part in an insider trading scheme, said on Saturday he was suspending his campaign for re-election to Congress.

In a statement posted on Twitter, Collins said he thought the decision was in the best interest of his constituents in New York, as well as the Republican party and “President Trump’s agenda.”

Collins was charged earlier this week with taking part in an insider trading scheme involving an Australian biotechnology company, Innate Immunotherapeutics LTD , on whose board he served. He has denied the charges.

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