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Hastert Pleads Guilty To Bank Fraud

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 Former House Speaker Dennis Hastert has pleaded guilty in a federal hush-money case. 

The 73-year-old Hastert entered the plea Wednesday in downtown Chicago. Under the plea deal, prosecutors have recommended a prison sentence of up to six months.  

 
The Chicago Tribune reported that nothing new was revealed about the underlying events that led Hastert to withdraw nearly $1 million in cash from four banks over 2½ years.

Hastert said that he knew his conduct was wrong, that no one had forced him to plead guilty, and that he understood the consequences of his plea.

Hastert read a brief statement saying that he didn’t want officials to know how he intended to spend the money he withdrew.

The judge set sentencing for Feb. 29. Neither side anticipates calling witnesses for the sentencing.

Crain's Chicago Business called the case the first big test for Zachary Fardon, who became U.S. Attorney in Chicago in October 2013.

Hastert, from southwest suburban Plano, was speaker from 1999 until 2007, when Democrats regained the majority. He served longer as Speaker than any other Republican. He was elected to the House in 1986 after serving in the Illinois General Assembly.

Three days after the charges were announced, Wheaton College removed Hastert's name from a public policy center that was launched eight years ago.

  • The Associated Press also contributed to this report.