Update: Dennis Hastert paid to conceal sexual misconduct, sources say Indicted former House Speaker Dennis Hastert was paying an individual from his past to conceal sexual misconduct, two federal law enforcement officials said Friday.
UPDATE: Word on the street is that Dennis Hastert was being blackmailed or extorted by someone from his wrestling coach days.
In the indictment it says: Individual A, “has been a resident of Yorkville, Illinois and has known Hastert” for most of Individual A’s life. When the FBI began questioning Hastert about the withdrawals, many of which exceeded the $10,000 limit that triggered disclosure of the withdrawals by the bank, he claimed the cash was for his own use, telling agents,”Yeah…I kept the cash. That’s what I’m doing.”
Former House Speaker Dennis Hastert has been indicted on federal charges for trying to hide close to $1 million in bank withdrawals and lying to the FBI.
Hastert was charged with one count each of structuring his currency transactions to evade Currency Transaction Reports on a withdrawal of $925,000 in cash and making false statements to the FBI in an indictment returned by a federal grand jury.
According to the indictment, in 2010, Hastert allegedly agreed to provide an unnamed individual with $3.5 million. Between 2010 and 2014, he withdrew a total of approximately $1.7 million in cash from various bank accounts. Until 2012, the denominations varied between about $50,000 and $100,000, and then after 2012, always in denominations less than $10,000 in order to avoid triggering a requirement that banks report cash withdrawals in excess of that amount.