DeLay convicted on money laundering and conspiracy charges

By Bridget Johnson – 11/24/10 07:14 PM ET

Former House Majority Leader Tom DeLay (R-Texas) was found guilty Wednesday on money laundering and conspiracy charges.

DeLay was indicted in 2005 on charges of conspiracy to violate election laws by illegally funneling $190,000 in corporate money to candidates in 2002. He subsequently stepped down as majority leader.

DeLay, who blasted the indictments as “political retribution,” now faces up to life in prison on the conviction. Sentencing is set for Dec. 20.

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