Rep. Rick Renzi, R-Ariz., a three-term congressman and an independent insurance agent, was indicted today by a federal grand jury in Arizona on charges related to a land deal in that state.
The indictment accuses Rep. Renzi and two former business partners of conspiring to promote the sale of land that buyers could swap for property owned by the federal government. The sale netted one of Mr. Renzi's former partners $4.5 million.
Rep. Renzi announced in August that he would not seek re-election.
Today's indictment comes after a lengthy federal investigation into the land developing and insurance businesses owned by Rep. Renzi's family.
According to the Center for Responsive Politics, insurance interests were the third largest contributors to Rep. Renzi's campaign in 2006, donating $108,296, behind only a PAC established by the House Republican leadership and the real estate industry.
According to his agency's Web site, Rep. Renzi started an independent agency now known as the Patriot Insurance Agency in Sonoita, Ariz., in 1989, which brokers insurance to nonprofit organizations such as crisis pregnancy centers, pregnancy care clinics, maternity homes, PTAs and local service organizations.
According to the National Association of Professional Insurance Agent's Web site, in 2006 Rep. Renzi said that he decided to enter politics because of his experiences as a member of PIA, and his first taste of the political process was attending a PIA Federal Legislative Summit.
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