Rep. Chris Collins to Plead Guilty in Insider Trading Case

Representative Chris Collins, a fourth-term Republican from Western New York who narrowly won re-election last year despite fighting federal securities fraud charges, is expected to plead guilty on Tuesday, a new court filing shows.

Mr. Collins, 69, one of President Trump’s earliest and most fervent supporters, had been accused of using private information about a drug company in which he was invested to help his son and others avoid financial losses.

Mr. Collins was to be tried in February along with his son, Cameron Collins, 26, and a third man, all of whom had pleaded not guilty. A document filed in Federal District Court in Manhattan on Monday said there would be a “change of plea” hearing on Tuesday for all three men, although the filing did not indicate what charges the men would be pleading guilty to.

All three men were facing charges of conspiracy, securities and wire fraud and making false statements.

There is no law that requires members of Congress to give up their seats when convicted of a felony, though House rules dictate that the member not vote after their convictions. Mr. Collins has not said whether he will seek another term, though he transferred $500,000 of his own money into his campaign fund in June.

A spokeswoman for Mr. Collins did not immediately return a request for comment on his election plans, nor did lawyers for him and his son. The United States attorney’s office for the Southern District of New York declined to comment.

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Ken Griffin, a wealthy investor and one of the largest Republican megadonors, conceded to CNBC's Sara Eisen on Tuesday that he expects Democrats to win the House of Representatives this fall.

"I think Trump has to deal with that reality that the American people have just had it when it comes to inflation," said Griffin. "And unfortunately, I think he's being disproportionately blamed for the diminution in purchasing power, the story of which was really written during the pandemic days of the Biden administration."

"And all the money that got injected into the economy afterwards. So, I mean, do you see the Democrats taking Congress?" asked Eisen.

"So it's almost a certainty the Democrats will take the House," said Griffin. "That's the — that's the nature of almost every midterm election cycle, is the House seats swing in the in the favor of the opposing party, the Senate will be the big battleground in this midterm."

He went on to express his confidence that Republicans could still retain control of the Senate, where Democrats would have to pick up at least four Republican-held seats without losing any of their own in battleground states.

Griffin, who runs the Citadel hedge fund, has had a complicated relationship with President Donald Trump, backing many of his policies, but also keeping him at arm's length, endorsing Florida Gov. Ron DeSantis over him in the 2024 primary, and accusing Trump of using the government to corruptly enrich himself.

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Then-presidential candidate Donald Trump posted the video in March 2024 during his campaign against then-President Joe Biden.

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