The GOP congressman accused of insider trading while at a White House picnic is still going to run for reelection

createPerformanceMark('first image displayed');Congressman Chris Collins speaking to reporters on Wednesday evening in New York. Fox News

The GOP congressman accused of insider trading has vowed to stand for re-election in November, despite the allegations against him.

Chris Collins, who represents the 27th district of New York, was arrested by the FBI on Wednesday and charged with securities fraud, including an allegation that he made an insider trade from a picnic held at the White House.

At a press conference on Wednesday night, Collins attacked the allegations against him as "meritless", and said he would clear his name and run for office again.

At the end of a six-minute statement, he told reporters: "I will remain on the ballot running for re-election this November." He then ended the conference without taking questions.

Collins' district is in western new York, between Buffalo and Rochester, and is generally considered a safe seat for the GOP. His opponent is Democrat Nate McMurray, an attorney and local politician.

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