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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Jeffrey S. Mitchell who wrote (102700)2/22/2008 11:11:58 AM
From: scion  Read Replies (1) of 122087
 
WASHINGTON -- Republican Rep. Rick Renzi has been indicted for extortion, wire fraud, money laundering and other charges related to a land deal in Arizona.

Arizona Congressman Is Indicted

Associated Press
February 22, 2008 10:51 a.m.
online.wsj.com
WASHINGTON -- Republican Rep. Rick Renzi has been indicted for extortion, wire fraud, money laundering and other charges related to a land deal in Arizona.

MORE
Renzi

• Renzi Won't Seek Re-Election1
08/24/

• Renzi Paid Campaign-Violation Fine2
05/02/07
• Renzi Case Delays Raise Gonzales Questions3
04/25/07
• Page One: Land-Swap Plan Causes Trouble for Renzi4
04/21/07

A 26-page federal indictment unsealed in Arizona accuses Mr. Renzi and two former business partners of conspiring to promote the sale of land that buyers could swap for property owned by the federal government. The sale netted one of Mr. Renzi's former partners $4.5 million.

The three-term Republican announced in August that he would not seek re-election because of the federal inquiry.

Last April, The Wall Street Journal reported that a real-estate developer and former business partner gave Mr. Renzi $200,000 as part of a complicated federal land swap that benefited the developer and would have required Mr. Renzi's legislative help. Mr. Renzi's attorney at the time said the payment was an unrelated real-estate debt. Investigators subsequently began looking into several other allegations, according to people familiar with the matter.

Copyright © 2008 Associated Press

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