Transcript
Republican Chris Collins suspended his re-election campaign Saturday.
He was indicted on insider trading charges earlier this week.
On Wednesday, federal prosecutors charged Collins, his son and another man with 13 counts of securities fraud, wire fraud and false statements.
The charges stem from an alleged insider trading scheme centered on an Australian pharmaceutical company.
Now Republicans will have to overcome New York’s complicated election laws to get Collins off the ballot and replaced him with another candidate before November’s midterm elections.
The US attorney’s office says Collins faces up to 150 years in prison if convicted on all counts.
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