Edwards finally indicted.... finally..... wow... bout time
June 03, 2011
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http://caps.fool.com/Blogs/justice-comes-swift-and/597047
http://news.yahoo.com/s/ap/us_edwards_investigation
RALEIGH, N.C. – A federal grand jury charged two-time presidential candidate John Edwards on Friday with soliciting and covering up the secret spending of more than $925,000 to hide his mistress and their baby during the peak of his 2008 campaign for the White House.
The grand jury's indictment in the case of USA v. Johnny Reid Edwards contained six counts, including conspiracy, four counts of receiving illegal campaign contributions and one count of false statements.
The indictment said the payments were a scheme to protect Edwards' White House ambitions. "A centerpiece of Edwards' candidacy was his public image as a devoted family man," the indictment said.
"Edwards knew that public revelation of the affair and the pregnancy would destroy his candidacy by, among other things, undermining Edwards' presentation of himself as a family man and by forcing his campaign to divert personnel and resources away from other campaign activities to respond to criticism and media scrutiny regarding the affair and pregnancy," the indictment added.
Negotiations between Edwards' attorneys and federal prosecutors to settle on a charge to which Edwards was willing to plead guilty continued through Thursday, but proved fruitless, according to people with knowledge of the negotiations. Prosecutors had insisted on a plea to a felony, which would endanger his ability to keep his license to practice law.
If convicted, Edwards faces a maximum penalty of five years in prison and a $250,000 fine on each of the six counts. First time white collar offenders usually don't receive prison terms in federal court, but the Justice Department typically presses for at least a short prison sentence for public officials. While Edwards was a private citizen as a candidate, he was receiving taxpayer money for his presidential campaign.
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