The 26-page indictment released Friday morning alleges that Renzi, a three-term congressman who in August announced he would not seek reelection, used his influence as a member of Congress to orchestrate a land swap so that he and an associate would benefit.

The indictment alleges that Renzi and Sandlin, who were co-owners of Renzi Investment, conspired to conceal from the public and the House of Representatives that Sandlin owed Renzi a substantial amount of money for purchasing Renzi’s interest in the business. It said Sandlin owed the lawmaker about $700,000 for much of 2005.

Renzi and Sandlin, according to the indictment, worked to ensure that businesses identified in the indictment as Company A and Investment Group B bought property from Sandlin that was to be included in the land swap with the federal government. The two businesses were interested in acquiring land owned by the federal government that sat above underground copper deposits.

In order to get the federal land, however, the companies needed to swap property of equal value with the federal government. Those land deals also were subject to approval by the House Natural Resources Committee, which included Renzi.

“It was the object of the conspiracy for Renzi to enrich Sandlin and personally benefit himself by compelling Company A, and later Investment Group B, to include real property owned by Sandlin in their respective land exchange proposals, in order to receive his support for the necessary legislation,” the indictment states.

It said Renzi used his position on the Natural Resources panel to pressure companies to purchase Sandlin’s property and include it in the deal.

The document details several conversations with Renzi and potential investors in Sandlin’s property that appear damaging.

After Company A said it would not purchase property from Sandlin because it had not been able to reach a financial agreement with him, the indictment said Renzi told the company, “no Sandlin property, no bill.” The indictment said this meant “Renzi would not sponsor Company A’s legislative proposal unless Company A included the Sandlin property in the land exchange.

The indictment also said Renzi told Investment Group B that it would receive a “free pass through the House of Representatives Natural Resources Committee” if they made the purchase.

The indictment also alleges that Renzi and Sandlin engaged in a conspiracy to conceal Sandlin’s “substantial outstanding financial debt” to Renzi from Company A, Investment Group B, the House of Representatives and the public at large.

It charges that the two conspired to conceal the payment to Renzi of a substantial portion of the proceeds from the sale of Sandlin’s real property “because Renzi was having financial difficulty” through 2005 and “needed a substantial infusion of funds” to keep his own insurance business solvent and to “maintain his personal lifestyle.”

Investment Group B ended up purchasing the Sandlin properties for $2.6 million, according to the indictment, which allowed Sandlin to pay Renzi $733,000 in 2005. Those payments were also concealed by Renzi and Sandlin, the document said.

The indictment also details contributions from Sandlin that found their way into Renzi’s reelection coffers. It states that Sandlin issued $121,000 in corporate checks to Renzi on two occasions in 2002, and that Renzi transferred $111,000 of those funds to his 2002 congressional campaign account.

The case could also have an impact on presidential race. Renzi was an Arizona co-chair of Sen. John McCain’s (R-Ariz.) presidential campaign.

The campaign released a statement regarding the indictment, saying that McCain “expressed disappointment upon hearing the news and said he expects the AG will be just.”

Renzi stepped down from the House Intelligence, Natural Resources and Financial Services committees in April 2007 after his Arizona business was raided by the FBI.