Former House Speaker Dennis Hastert Indicted for Bank Fraud and Lying to FBI

A seven-page federal indictment was unsealed charging former House Speaker Dennis Hastert with structuring bank withdrawals to evade reporting requirements and making false statements to the FBI. Hastert, who served as the longest-serving Republican House Speaker in history (1999-2007) and was third in line to the presidency, faced charges for illegally withdrawing approximately $1.7 million from various bank accounts between 2010 and 2014.

The indictment revealed that Hastert had agreed to pay $3.5 million to an unnamed individual (referred to as “Individual A”) from his hometown of Yorkville, Illinois, to “compensate for and conceal his prior misconduct” against that person. Hastert structured the cash withdrawals in amounts under $10,000 to avoid triggering mandatory bank reporting requirements. When questioned by the FBI about the withdrawals, Hastert falsely claimed he was keeping the cash because he didn’t trust the banking system.

The indictment noted that Hastert had known “Individual A” for most of that individual’s life and referenced Hastert’s prior work as a high school teacher and wrestling coach at Yorkville High School, though it did not explicitly detail the nature of the misconduct. Media reports soon emerged indicating the payments were hush money related to sexual abuse allegations from Hastert’s time as a coach. Former Illinois Republican Governor Jim Edgar expressed shock: “Denny Hastert would be the last person I would think that would be indicted.” The case would ultimately reveal that one of America’s most powerful politicians had been a serial child molester.