The speaker of the New York State Assembly, Sheldon Silver, has been taken into custody by the FBI on alleged corruption charges. Silver was taken into custody before 8 a.m. yesterday in Manhattan. The charges reportedly stem from payments he allegedly received from two law firms: one that specializes in asbestos litigation and another that specializes in seeking reductions of New York City real estate taxes. The complaint alleges that Silver used the power and influence of his official position to obtain for himself millions of dollars in bribes and kickbacks masked as legitimate income. Silver has been the speaker of the Democratic controlled Assembly for more than two decades, and his arrest sends shock waves through Albany at the beginning of a new legislative session. Silver was released on $200,000 bail yesterday afternoon. If he is convicted, he could face a sentence of up to 100 years in prison.
