House Minority Leader Nancy Pelosi, D-Calif., urged Speaker of the House Paul Ryan, R-Wis., to press Rep. Chris Collins, R-N.Y., to step down from his post after he was arrested by the FBI and charged with insider trading.
“Speaker Ryan must call on Congressman Collins to resign,” Pelosi said in a statement. “No person is above the law, not the President nor his first supporter in Congress.”
Pelosi’s statement came after Collins announced that he was suspending his reelection campaign, but would fulfill the remainder of his term and would “continue to fight the meritless charges brought against me and I look forward to having my good name cleared of any wrongdoing.”
“This insufficient and overdue announcement does little to drain the toxic cesspool of self-enrichment, special interest deals and corruption that has proliferated in Washington under GOP control,” Pelosi said.
Collins was slated to go up against Democrat Nate McMurray in November. A GOP official said that Collins will likely be put on a town clerkship ballot for a Sept. 13 primary contest. This would open up the opportunity for county party officials to fill his spot on the ballot.
Collins faces multiple charges, including several counts of securities fraud, making false statements, wire fraud, and one count of conspiracy to commit wire fraud. He allegedly encouraged lawmakers and former Health and Human Services Secretary Tom Price to invest in an Australia-based pharmaceutical company where he is the largest stakeholder.
Ryan removed Collins from the House Energy and Commerce Committee earlier this week.
Collins was first elected in 2012 and has pleaded not guilty to the charges.
