Rep. Chris Collins Resigns Ahead Of Plea Hearing

Congressman Chris Collins of New York announced his resignation Monday, a day before he was set to change his plea in an insider trading case in Manhattan federal court.

A change of plea hearing was set for Tuesday for the Republican House lawmaker, court records show. Hearings for his son Cameron Collins and associate Stephen Zarsky are scheduled for later this week.

Collins, who's been unsure whether to run again next year, will now leave Congress immediately. House Speaker Nancy Pelosi's office told ABC News it received Collins' resignation letter and his departure will take effect Tuesday. NBC News, the Hill, The Washington Post and Politico also reported Collins' resignation.

Prosecutors have charged all three with 13 counts of fraud, conspiracy and lying to the FBI. They were arrested a year ago stemming from an insider trading plot that involved Australian biotech firm Innate Immunotherapeutics, prosecutors said. Collins pleaded not guilty in August 2018.

A congressional ethics investigation in 2017 found "substantial reason to believe" Collins violated federal law and promoted stock in Innate Immunotherapeutics with insider information.

Collins, who represents New York's 27th District, which includes suburban areas of Buffalo and Rochester, said this month he hadn't decided whether to run for re-election in 2020.

"Rep. Collins, who, by virtue of his office, helps write the laws of this country, acted as if the law did not apply to him," U.S. Attorney Geoffrey S. Berman said last year when Collins was indicted.

"These charges are a reminder that this is a nation of laws, and everyone stands equal before the bar of justice."

The four-term Collins was first elected to the House in 2013. He's previously served on the House energy and agriculture committees, but is no longer a member of any panel due to a rule that bars committee assignments for lawmakers under indictment.