Former St. Louis aldermen Reed, Boyd plead guilty to federal bribery charges
The pair changed their pleas to guilty in federal court Friday, days after former
All three former aldermen, accused of accepting cash bribes in exchange for supporting property tax abatements, previously pleaded not guilty to the charges. They will be sentenced on Dec. 6.A judge permitted them to remain out on bond until their December court hearings. They also must pay restitution for the bribes and gifts they received. Boyd pleaded guilty to bribery and racketeering after admitting he accepted money to help an informant buy city property below market value and inflate construction costs to receive a tax abatement.Boyd also pleaded guilty to two counts of wire fraud relating to a January incident in which he falsified insurance documents claiming three cars wrecked in the informant's lot were actually on his lot. He faces a maximum of 55 years in prison. Later Friday, Reed pleaded guilty to a count of bribery and another count of racketeering. He faces a maximum of 15 years in prison.The maximum sentence for
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