Sheldon Silver Arrested On Corruption Charges

UPDATE: Jan. 22, 2015 (8:32am) - The NY Daily News reporting Silver is now in federal custody.

Longtime New York Assembly Speaker Sheldon Silver is expected to be arrested today on corruption related charges, according to a report from the New York Times.

The investigation leading to the purported charges stems from a federal probe into Governor Andrew Cuomo's defunct Moreland Commission - which had been tasked with uncovering corruption.

The Feds began their own investigation after Cuomo abruptly shut the commission down.

The NY Times reports:

Details of the specific charges to be brought against Mr. Silver were unclear on Wednesday night, but one of the people with knowledge of the matter said they stemmed from payments that Mr. Silver received from a small law firm that specializes in seeking reductions of New York City real estate taxes.

Silver, 70, was first elected to the state Assembly in the mid 1970's and has served as Speaker since 1994.

UPDATED 2:13 p.m.- U.S. Attorney Preet Bharara has detailed the charges against Silver.

Bharara says a criminal complaint shows Silver used his power and influence as Speaker to obtain millions of dollars in bribes and kickbacks masked as legitimate income.

In one of the suspected schemes, the long-time Assembly leader is accused of doling out state money to a research fund for a doctor, who in return would make referrals to a law firm where Silver worked.