Fact Check: "Michael Madigan amassed a net worth of $40 million through a private legal career while serving as a political leader in Illinois."
What We Know
Michael Madigan, the former Illinois House Speaker and the longest-serving legislative leader in U.S. history, was recently sentenced to 7.5 years in prison for federal bribery, conspiracy, and wire fraud. During his trial, prosecutors revealed that Madigan had built a private legal career that allowed him to amass a net worth of approximately $40 million (Fox News, NBC Chicago, ABC News). This figure has been consistently cited across multiple reputable sources, indicating a consensus on the estimated net worth attributed to Madigan.
Analysis
The claim that Michael Madigan amassed a net worth of $40 million through his private legal career while serving in a political capacity is supported by multiple credible sources. Prosecutors explicitly stated this during the trial, emphasizing that his wealth was built alongside his political career, which spanned over five decades (NBC Chicago, ABC News).
However, there has been some legal contention regarding the mention of his wealth in court proceedings. A federal judge recently struck a reference to Madigan's personal fortune from the sentencing record, agreeing with his defense that it was not relevant to the sentencing guidelines (Yahoo News, Chicago Tribune). This action does not negate the fact that the figure of $40 million was presented by prosecutors and widely reported in the media, suggesting that while the legal system may have sought to minimize the focus on his wealth, the claim itself remains substantiated.
The sources reporting on Madigan's net worth are largely reliable, including major news outlets like Fox News, NBC Chicago, and ABC News. These outlets have a history of investigative journalism and fact-checking, lending credibility to their reports.
Conclusion
The claim that Michael Madigan amassed a net worth of $40 million through a private legal career while serving as a political leader in Illinois is True. This conclusion is based on consistent reporting from multiple credible sources, despite some legal efforts to downplay the significance of his wealth during sentencing.
Sources
- Michael Madigan gets 7.5-year prison term and $2.5M fine in bribery ... Fox News
- Michael Madigan sentenced to prison in corruption case - NBC Chicago NBC Chicago
- Judge strikes reference to Madigan's personal fortune of ... Yahoo News
- The longest-serving legislative leader in US history will be sentenced ... ABC News
- Michael Madigan Net Worth 2021: Age, Height, Weight, Wife Wealthy Persons
- Judge strikes details of Madigan's wealth from sentencing record Chicago Tribune
- Ex-Illinois Speaker Michael Madigan Sentenced to 7.5 ... WTTW
- Ex-Illinois House Speaker Mike Madigan sentenced to 90 months, $2.5 ... WGN TV
