Former House speaker Dennis Hastert indicted by federal grand jury

YORKVILLE, Ill. —

J. Dennis Hastert, the longest-serving Republican speaker in the history of the U.S. House, was indicted Thursday by a federal grand jury on charges that he violated banking laws in a bid to pay $3.5 million to an unnamed person to cover up “past misconduct.”

Hastert, who has been a high-paid lobbyist in Washington since his 2007 retirement from Congress, schemed to mask more than $950,000 in withdrawals from various ac­counts in violation of federal banking laws that require the disclosure of large cash transactions, according to a seven-page indictment delivered by a grand jury in Chicago.

The indictment did not spell out the exact nature of the “prior misconduct” by Hastert, but it noted that before entering state and federal politics in 1981, Has­tert served for more than a decade as a teacher and wrestling coach at Yorkville High School in Illinois.

In 2010, confronted about the “prior misconduct,” the former speaker agreed to pay $3.5 million to the person “to compensate for and conceal his prior misconduct against Individual A,” prosecutors alleged.

That person, whose identity was shielded by prosecutors, has known Hastert most of his or her life, growing up in Yorkville, the city next to Hastert’s home town of Plano, in the exurbs west of Chicago. Prosecutors said the actions “occurred years earlier” than the 2010 meeting that sparked the payments.

Via: Washington Post

Continue Reading....