A former staffer for former Rep. Steve Stockman, R-Texas, pleaded guilty to running a fraud and money-laundering ring on behalf of the congressman.According to the Department of Justice, Jason Posey pleaded guilty before Chief U.S. District Judge Lee Rosenthal to one count each of wire fraud, mail fraud, and money laundering.
Sentencing is set for March 29, 2018, and he faces up to 45 years in federal prison and a fine of more than $4.8 million plus hundreds of thousands of dollars in restitution.
In his plea, Posey admitted he and another staffer -- Thomas Dodd, who has also pleaded guilty -- illegally funneled hundreds of thousands of dollars from charitable foundations and the people in charge of the foundations to finance Stockman's campaigns and pay for personal expenses.
Posey said he did so at Stockman's direction.
In March, a federal grand jury indicted Stockman on 28 charges stemming from corruption charges in his role in the scheme with his two staffers. He pleaded not guilty and his trial is slated to begin in January 2018 after numerous delays.
Stockman served two terms, representing the Houston suburbs from 2013 to 2015. He was unsuccessful in his challenge to GOP Sen. John Cornyn in 2014.