Breaking news out of New York where we’re seeing reports that Republican Rep. Chris Collins (NY-27) was arrested and charged with securities fraud:

Rep. Collins, who was on the board of directors of an Australian biotech company, allegedly passed on insider information of said company to his son, who then traded on that information:

Collins’ son and the father of of son’s fiancée were also charged:

According to the indictment, Collins was interviewed by the FBI back in April, and said he did not pass on inside information to his son:

The indictment says there are emails and call logs to back up the charges, however:

Collins was also a very early supporter of then candidate Trump, which we’ll hear a lot about today no doubt:

And right on cue:

Back in February, the Cook Political report declared the race safe for the GOP “unless Collins is indicted.” Oof:

This should be a safe GOP seat so we expect there will be some maneuvering to make sure it stays that way:

We’ll find out more at the noon press conference.