New York State Assembly speaker reportedly to be arrested on corruption charges

Sheldon Silver, the powerful longtime speaker of the New York State Assembly, is facing arrest on federal corruption charges, according to a published report. 

The New York Times reported that the charges stemmed from payments that Silver, a Democrat, received from a small New York City law firm, Goldberg & Iryami, that specializes in seeking reductions in New York City real estate taxes. It was not immediately clear how much Silver was paid by the firm, but the paper reported that the amounts were "substantial" and the payments were made over several years. Silver reportedly failed to disclose the payments as required in his annual financial filings with the state. 
The Times reports that the federal investigation of Silver began after New York Gov. Andrew Cuomo abruptly shut down an anticorruption commission he created in March of 2013. That inquiry had focused on outside income earned by state legislators with part-time jobs. 
Silver earns $121,000 per year as Assembly speaker and reported a $650,000 income from legal work on his financial disclosure form for 2013, the most recent year available.
Under New York law, officeholders can continue to serve after being arrested, but must leave office upon conviction for a felony offense. 
Silver, 70, was elected to the New York State Assembly in 1976, representing a district comprising much of lower Manhattan, including the site of the newly opened Freedom Tower. He has served as Assembly Speaker since 1994.