Arizona Rep. Renzi Indicted Over Land Deal

Charged with 35 counts of conspiracy, extortion, money laundering
By Matt Cantor,  Newser User
Posted Feb 22, 2008 10:21 AM CST
President Bush, left, is introduced by Rep. Rick Renzi of Arizona, before speaking at a Republican fundraiser, Oct. 4, 2006 in Scottsdale, Ariz. Renzi has been indicted for extortion, wire fraud, money...   (Associated Press)
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(Newser) – Rep. Rick Renzi has racked up a 35-count indictment, including federal charges of conspiracy, extortion, wire fraud, insurance fraud, and money laundering, CNN reports. The Arizona Republican and two ex-business partners worked to sell land that buyers could then trade for federally-owned property, the AP reports; the sale brought one of Renzi’s co-conspirators $4.5 million.

Earlier this year the FBI raided a Renzi family business, raising some eyebrows. The bureau is looking into whether the three-term congressman levied his federal position to bring home benefits. Renzi hasn’t admitted guilt, but he has said he will not run for re-election.