Caught in an FBI sting, Jefferson was filmed accepting $100,000 in marked bills from one of the owners of iGate Communications.  Jefferson was supposedly helping iGate obtain contracts in Nigeria. Days later the FBI recovered the cash wrapped in aluminum foil from Jefferson's freezer in his Alexandria, Virginia home. Jefferson promises that there is an honorable explanation which he will reveal at the appropriate time. The prevailing theory absent Jefferson's explanation is that the money was being held to bribe the Nigerian Vice President to secure the contracts. The FBI investigation is proceeding slowly and was marred by a ham fisted, precedent setting raid of Jefferson's Congressional offices.

Indicted Monday June 4, 2007 on sixteen counts including racketeering, Jefferson was arraigned Friday. He pleaded not guilty and waived his right to a speedy trial (apparently preferring more time to prepare his defense and coincidentally serve out his term in Congress). He made a statement that offered little in the way of an honorable explanation for his behavior. He commented that the business dealings were private and that he had never sold his vote in Congress or solicited payment for any of his elected duties.

However the government in its indictment of Jefferson says he did use his official capacity and resources including official travel, staff and correspondence to forward the interests for which he was being paid. They also allege that he conspired to violate the Corrupt Foreign Policies Act by bribing high level Nigerian officials. Rather than directly accepting payment himself he arranged for members of his family to be paid.

Chuck Rosenberg, the U.S. attorney in Alexandria Virginia summed it up:

"The alleged criminal behavior is spread over time and distance. But the essence of the charges in this case are really rather simple. Mr. Jefferson corruptly traded on his good office and on the Congress, where he served as a member of the United States House of Representatives, to enrich himself and his family through a pervasive pattern of fraud, bribery and corruption that spanned many years and two continents."

Text of the indictment from DOJ Website

He was tried and convicted on August 5, 2009. He never presented the "reasonable and honorable" explanations for his behavior that he had promised, and was found to be guilty of of eleven of the 16 counts in the indictment. Bribery, money laundering, wire fraud and racketeering convictions are sure to be appealed as the federal justice juggernaut blunders forward.