The indictment came as Collins, 68, was seeking a fourth two-year term in November’s elections, where Democrats hope to recapture the House of Representatives.
“These charges are a reminder that this is a nation of laws, and that everybody stands equal before the bar of justice,” U.S. Attorney Geoffrey Berman said at a news conference in Manhattan.
Collins said the charges were baseless and he would run for re-election in November in his upstate New York district.
“The charges that have been levied against me are meritless and I will mount a vigorous defense in court to clear my name,” Collins told reporters in Buffalo.
“As I fight to clear my name, rest assured I will continue to work hard for the people and constituents of the 27th Congressional District of New York and I will remain on the ballot running for re-election this November,” he said.
The indictment charged Collins, his son Cameron, and Stephen Zarsky, the father of Cameron Collins’ fiancée, with securities fraud, wire fraud and other crimes.
All three defendants pleaded not guilty on Wednesday before U.S. District Judge Vernon Broderick in Manhattan.
Two lawyers for Collins, Jonathan Barr and Jonathan New, said in a statement that they were confident he would be “completely vindicated and exonerated.”
“We intend to mount a vigorous defense on behalf of our client,” Tom Hanusik and Rebecca Ricigliano, lawyers for Cameron Collins, said in a statement. Amanda Bassen, a lawyer for Zarsky, declined to comment.