Former Speaker Hastert Pleads Guilty, Could Receive Six Months in Prison

Yet another Illinois lawmaker could be headed to prison, as former House Speaker Dennis Hastert pleaded guilty Wednesday to illegally making bank withdrawals for payoffs.

It's alleged Hastert agreed to pay an individual $3.5 million to quash allegations of sexual misconduct with a student when he was a high-school teacher and coach in Illinois. Prosecutors say he structured the the withdrawals to avoid raising red flags.

Hastert did not plead guilty to separate charges that he lied about the transactions, but did admit to misleading investigators, saying, "I didn't want them to know how I intended to spend the money."

Hastert, 73, will be sentenced on Feb. 29. He could receive six months in prison, with the possibility of a longer term should the judge impose a stiffer sentence.

Prior to his indictment in May, Hastert was House Speaker for eight years before retiring in 2007.