DeLay Money Laundering Conviction Overturned

Former House Majority Leader had been convicted of illegally funneling corporate money to RNC

   

NewLetters DeLay Money Laundering Conviction OverturnedFormer Republican House Majority Leader Tom DeLay had his 2010 conviction on money laundering charges overturned today by a Texas appeals court.

DeLay had previously been convicted for allegedly violating rules against donating corporate money to political campaigns. In Texas, it is against state law to give corporate money directly to political campaigns.

In 2002, the former Congressman allegedly used his Texas-based political action committee to send a $190,000 check to an arm of the Republican National Committee. The RNC then turned around and donated that same amount to seven Texas House candidates.

In their case, Texas prosecutors said the end result of the scheme was the GOP took over the Texas House, enabling them to pass a redistricting plan that sent more Republicans to Congress from Texas in 2004, thus strengthening the party’s power.

The appeals court, however, said prosecutors “failed in its burden to prove that the funds that were delivered to the seven candidates were ever tainted.” They issued a 2-1 ruling that reversed the trial court’s judgement and acquitted him.

DeLay was originally arrested and charged with money laundering in 2005, and soon after stepped down from the Majority Leader post. In 2006, he resigned from Congress. Since then, DeLay has written a book and appeared on the 9th season of Dancing With The Stars, where he was eventually forced to withdraw due to injury.

The opinions contained in this column are solely those of the writer.

Want to share your own views on money and politics? Drop us a line at letters@investorplace.com and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.


Article printed from InvestorPlace Media, http://investorplace.com/investorpolitics/delay-money-laundering-conviction-overturned/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.