Former US House Speaker Hastert indicted on federal charges

Former US House of Representatives Speaker Dennis Hastert (R-IL) speaks during a news conference in Batavia, Illinois in this October 5, 2006 file photo. [Photo/Agencies]

CHICAGO - Former US House of Representatives Speaker Dennis Hastert was indicted on Thursday on federal charges, including for lying to the FBI, relating to an alleged effort to hide $3.5 million in payments he was making to a person to conceal past misconduct.

The Illinois Republican, who left Congress in 2007, was charged with structuring the withdrawal of $952,000 in cash to evade the requirement that banks report cash transactions over $10,000, and lying to the FBI about his withdrawals, the US Attorney's Office in Chicago said.

Each count of the two-count indictment carries a maximum penalty of five years in prison and a $250,000 fine.

Hastert, 73, resigned on Thursday from the Dickstein Shapiro law firm in Washington where he was listed as a senior adviser and from the board of the exchange operator CME Group Inc , representatives of the law firm and CME said.

Hastert could not be reached immediately to comment on the indictment.

According to the indictment, the unspecified misconduct involved payments to an unnamed individual who had been a Yorkville, Illinois, resident and had known Hastert for most of the person's life.

Before his terms in Congress, Hastert served three terms as an Illinois state representative and was a teacher at Yorkville High School in suburban Chicago for 16 years, according to a biography from Wheaton College where he graduated in 1964.

Hastert also was a football and wrestling coach at the high school.

According to the indictment, Hastert met with the person several times around 2010 and discussed past misconduct by the former lawmaker. Eventually, Hastert agreed to pay the person $3.5 million in compensation to conceal the misconduct, the indictment said.