Renzi, a three term congressman from Arizona, barely survived his last election due to ethical issues. He's been indicted today.
In a 35-count indictment handed up by a grand jury in Arizona, Renzi is charged with conspiracy, wire fraud, money laundering extortion and insurance fraud.
The indictment stem from Renzi's efforts to use his position in Congress to promote land deals in Arizona by a former business partner, according to the sources.
The Arizona Republican has been under an ethical cloud ever since a family business was raided earlier this year by the FBI, which is investigating whether he used his federal office for personal gain.
Renzi has never admitted to wrongdoing.- Advertisement -
Renzi already announced, last summer, that he would not be returning to run again in the 2008 elections.
Associated press reports, "A 26-page federal indictment unsealed in Arizona accuses 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 Renzi's former partners $4.5 million."