A powerful North Carolina state legislator was indicted Tuesday on theft and money-laundering charges related to the use of federal funds by nonprofit loan enterprises he managed, reports the News & Observer of Raleigh.
Federal investigators allege that over 15 years, Rep. Stephen LaRoque steered hundreds of thousands of dollars intended to support struggling rural businesses through various accounts to benefit himself, his wife, and close associates, utilizing the nonprofit loan corporations as well as a for-profit business.
Mr. LaRoque, chairman of the House Rules Committee in the current legislative term, was defeated in the May 17 Republican primary and will not return to office next year.
The 48-year-old legislator has denied any wrongdoing. In a written statement, his attorney, Joseph B. Cheshire V, said Mr. LaRoque ?is proud of what he has accomplished with his nonprofit corporations. [They] provided monies that led to new business, and led to hundreds of jobs for North Carolinians who would, otherwise, have been unemployed.?
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