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New York Republican Rep. Chris Collins is resigning from Congress ahead of his expected guilty plea in an insider-trading case.
Collins had previously pleaded not guilty, but was scheduled to change his plea in federal court on Tuesday.
The four-term congressman has been accused of insider trading with family members who were holding the stock of an Australian biotech company on whose board he was serving. He is no longer on the board of directors for the company, which was named Innate Immunotherapeutics but is now called Amplia Therapeutics INNMF, -27.97% .
Collins was re-elected in November despite the August 2018 indictment on insider trading. His indictment sparked a push to bar House members from serving on the boards of publicly traded companies.
