Ex-House Speaker Hastert indicted for evading currency reporting requirements

Former U.S. House Speaker Dennis Hastert was indicted by a federal grand jury Thursday for allegedly avoiding a requirement to report large cash withdrawals from banks and lying to the FBI, Bloomberg reports.

Hastert withdrew $952,000 in cash to give an unidentified person $3.5 million as a payoff for covering up "prior misconduct," U.S. Department of Justice prosecutors alleged. Starting in July 2012, the Illinois Republican allegedly withdrew money from the bank in increments less than $10,000 to avoid banks reporting large transactions, as required by law.

He then told the FBI he was keeping the money, Bloomberg reports.

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