Former House majority leader DeLay convicted of money laundering

[News_Editor]

Former House majority leader DeLay convicted of money laundering

2010-11-25 13:19:51 GMT+7 (ICT)

AUSTIN, TEXAS (BNO NEWS) -- Former U.S. House majority leader Tom DeLay on Wednesday was convicted on money laundering charges relating to a corporate money swap during the 2002 elections, the Houston Chronicle reported.

DeLay was forced to step down as the second most powerful Republican in the U.S. House five years ago after he was charged with money laundering and conspiracy to commit money laundering.

The money laundering charges also led the former Republican leader to resign from his Sugar Land congressional seat in 2006. Jurors deliberated for 19 hours before reaching a guilty verdict.

After being found guilty, DeLay faces a maximum sentence of 20 years in prison on the conspiracy charge, and five to 99 years or life in prison on the money laundering count.

According to prosecutors, DeLay and two associates, John Colyandro and Jim Ellis, were accused of illegally channeling corporate donations collected by DeLay's political action committee in Texas through an arm of the Republican National Committee.

In addition, DeLay used his political action committee to illegally funnel $190,000 in corporate donations. The money went to seven Texas House candidates in 2002.

The committee was designed to help Republicans win a state House majority in preparation for a mid-decade congressional redistricting in 2003. That redistricting helped the Republicans take a 17-15 majority from the Democrats and win a 21-11 GOP majority in the 2004 elections.

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