Trump ally indicted on insider trading charges speaks out

Rep. Chris Collins, a Republican from New York and one of the president's most loyal supporters, has vowed to fight the charges in court and win re-election.
2:48 | 08/09/18

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Transcript for Trump ally indicted on insider trading charges speaks out
Now to politics new trouble for congrenis cos of New York. The first memberfon to endorseump's candidacy has beenndted on trading charges. R chief business correspondent Jarvis isere an Rebecca, overght Collins vowed to fight the chs. Repr: In a short news conferen take qutirters, but Coman collinowed to clear his name and run for re-election in November. This morning a defiantmanlins - The charges levdinst me aremetless. Rtetrump's most loyal supporrs Donald Trump a movement. Oh, Chris, rig said trumpoing to win. Trump is going to win. Repor dismissing allegations of insider Trang vowingohe charges in court and win ion. I look forward tongly vindicated andexonerated. Reporter: According to the ctment he bro Feder law by profiting from insid infoion, saving his family and friendsearly $0, a single pharmaceutical investment. Congressmalins acteds posted Thi photo from a white house picni in 2017 where prosecutors Y heeived anmail from the CEO oftralian pharmaceutical companyinna immunotherapeutics where he sits one brd and it says it infoed that the drug trial D failed.e co writing back, makes N sense. Then just one minutelater, the government says Collins called hison Cameron multiple times to tipimoff. The crime Thate committed was to tip hisonameron so at Cameron and aew select otheould trade on the news while theestingublic remained the dark Rr: His S tn allegedly INT infoation with Hise fathn-law step zarsky and others and started dumping SHAR of thecompany. And when theailed Tes results were publicly disclosed four days later, innate S unged 92%. The congress his son Stephen zarsky now face 13 counts of securities fraud, wire fraud andse statements stemming from the insert trading scheme and not guilty It seemlear Cun general they can be this one is lot clearer in teof the fact. The trial notill the electi presidetrump's legaleam rejected Robert Mueller's

This transcript has been automatically generated and may not be 100% accurate.

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