Sheldon Silver Guilty Of Corruption

Disgraced New York political powerhouse Sheldon Silver was found guilty on all counts of federal corruption charges Monday.

Silver was charged with seven counts of “honest services fraud, extortion and money laundering” in January. He quickly resigned from the legislative seat he was elected to more than 40 years ago.

Preet Bharara

Preet Bharara

Manhattan U.S. Attorney Preet Bharara and the FBI accused Silver of accepting around US$4 million in bribes and kickbacks in exchange for political favors. A lengthy investigation found that the Assembly speaker made unlawful income from a real estate law firm and asbestos client referrals. Bharara estimated that two-thirds of Silver’s income outside his political career has come from illegal activity over the past 13 years.

As New York Speaker of the Assembly, Silver was one of the most powerful men in Albany for the last two decades and a constant in shaping state policy under five governors.

The 71-year-old Democrat faces 130 years in prison. He will be sentenced next year, according to Politico.

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