Congressman indicted in conspiracy

February 22, 2008 8:19:37 AM PST
Republican Rep. Rick Renzi has been indicted for extortion, wire fraud, money laundering and other charges related to a land deal in Arizona.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.

Renzi is a three-term member of the House. He announced in August that he would not seek re-election.

Today's indictment comes after a lengthy federal investigation into the land developing and insurance businesses owned by Renzi's family.

In April 2007, federal agents raided a Sonoita Arizona business owned by Renzi's wife, Roberta.

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