Dennis Hastert, Former House Speaker, Pleads Guilty to Federal Charge in 'Hush Money' Case

Nearly 17 years ago Dennis Hastert was sworn in as the speaker of the House with his right hand raised.

On Wednesday in Chicago, Hastert took an oath of a different kind, swearing in a federal courtroom to tell the truth as he pleaded guilty to a felony count of illegally structuring cash withdrawals to evade bank currency-reporting requirements -- actually, paying a victim to conceal sexual misconduct. 

"Guilty, sir," Hastert, 73, said in a hoarse voice as he leaned toward a microphone and acknowledged in the packed courtroom that he had made hush-money payments to cover up wrongdoing in his past.

He was actually pleading guilty to one of two charges against him for paying a victim to conceal sexual misconduct. He'll be sentenced on Feb. 29, 2016.

The guilty plea marked a dramatic downfall for Hastert, one of Illinois' most powerful Republicans who rose from humble beginnings as a small-town high school teacher to the third-highest political office in the country.

According to the Chicago Tribune, while Hastert is now a convicted felon, "the 20-minute hearing left more questions than answers." No further details came out about the underlying wrongdoing that led him to withdraw nearly $1 million in cash from four banks over 2 ½ years.

The 15-page plea agreement with prosecutors contains almost identical language as the indictment issued in May. It does not identify the person Hastert had agreed to pay $3.5 million to keep quiet or provide any new details on the wrongdoing Hastert was trying to cover up.

Under federal guidelines, Hastert faces a sentence ranging from probation to up to six months in prison. The judge, however, said that despite the agreement between parties, he is free to hand out a term of up to the statutory maximum of five years behind bars.