Report: Dennis Hastert was trying to get more money right around the time he shelled out $3.5 million

Report: Dennis Hastert was trying to get more money right around the time he shelled out $3.5 million

Hastert is rumored to have been paying a man $3.5 million to cover up alleged sexual molestation from decades ago.

Dennis Hastert, the Republican former speaker of the House who is accused of paying someone to keep quiet about misconduct allegations, looked for ways to get some extra income right around the time he allegedly made the payments.

J. David John, a former business associate of Hastert, said that he asked a financial adviser on Hastert’s behalf back in 2010 on how he could arrange his investments to increase his cashflow, according to an Associated Press report.

Hastert is accused of violating bank regulations by withdrawing small amounts of cash to pay a total of $3.5 million to a person in exchange for hushing up some unpleasant incident int he past, with rumors suggesting they had to do with sexual molestation.

Hasert will be arraigned on two charges in a federal court in Chicago this week, and faces up to a five-year sentence and $250,000 in fines for each charge if he is convicted.

Emails between John and a Hastert assistant, which were first reported on by the New York Times, indicates that in June 2010, John got an email from a financial adviser that told him how he could generate cash for Hastert, although there wasn’t much detail in terms of how much of a fortune Hastert had amassed — much of it tied up in real estate. The adviser suggested that he set up an annuity, as he could get 4-6 percent there, which would provide a steady stream of income for the rest of his life.

Hastert, as it turns out, was pulling $50,000 at a time to make those secret payments, according to the indictment.

John turned on Hastert after they experienced a falling out in their relationship. John eventually sued Hastert.

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