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babylonsister Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Wed Nov-24-10 06:17 PMOriginal messageDeLay convicted of money laundering charges Edited on Wed Nov-24-10 06:18 PM by babylonsisterhttp://www.chron.com/disp/story.mpl/metropolitan/730800...DeLay convicted of money laundering chargesBy R.G. RATCLIFFEAUSTIN BUREAUNov. 24, 2010, 4:56PMAUSTIN – A Travis County jury today found former U.S. House Majority Leader Tom DeLay guilty of political money laundering charges relating to a corporate money swap in the 2002 elections.The verdict came down five years after DeLay was forced to step down as the second most powerful Republican in the U.S. House. The charges also led DeLay to resign from his Sugar Land congressional seat in 2006.DeLay was accused of money laundering and conspiracy to commit money laundering. On the conspiracy charge, DeLay faces a sentence of two to 20 years in prison and five to 99 years or life in prison on the money laundering count.In preparation for the 2002 elections, DeLay cloned his Americans for a Republican Majority political committee as Texans for a Republican Majority. TRMPAC 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.At the center of the case against DeLay was an exchange of $190,000 in corporate donations to TRMPAC for an equal amount of money donated by individuals to the Republican National Committee. The RNC money was given to seven Texas candidates specified by TRMPAC.Corporate money cannot be used in candidate campaigns in Texas.
