Mike Madigan is a U.S. politician best known for being the longest-serving leader of any state legislative body in the United States. He served as the speaker of the Illinois House of Representatives from 1971 to 2021, and resigned at the age of 80. Unfortunately, Madigan tarnished his own legacy by engaging in various fraudulent activities to boost his political power, which led to a highly publicized trial that only just concluded. Mike Madigan’s trial finally comes to a close In October 2022, Madigan and his long-time confidant, lobbyist Michael McClain, were charged with a litany of crimes including racketeering, fraud, and many more. The trial was the biggest corruption case in Illinois history and Madigan was indicted on 23 charges, while McClain was indicted on six. The FBI and other federal prosecutors had been investigating Madigan and McClain for over a decade leading up to the indictment. The trial began on Oct. 8, 2024, and concluded on Dec. 18. Madigan was convicted on 10 counts and acquitted on seven, while jurors were indecisive on six. His convictions included one count of conspiracy, two counts of bribery, three counts of wire fraud, and four different counts of violating the Travel Act. Both Madigan and McClain were indicted on a racketeering conspiracy charge, which alleged that Madigan’s political activities were a front for criminal acts, such as bribery and wire fraud. Madigan was also convicted of conspiring with utility company ComEd to provide jobs to people chosen by him in exchange for legislative help. His wire fraud charge was related to helping former Alderman Danny Solis get a state board seat. Solis eventually testified against Madigan and revealed some secretly recorded phone calls damning the former rep after securing a deal with federal prosecutors. Madigan was acquitted of one count of bribery, two counts relating to his dealings with ComEd, and four counts of conspiracy to coerce people into giving business to his private law firm. The jurors were indecisive on the biggest count against Madigan- the racketeering conspiracy, as well as all six counts against McClain. This led to a deadlock and all of those counts were declared as mistrials. A decision has not yet been made on whether Madigan or McClain will be retried on any of the deadlocked charges. Madigan is looking at up to twenty years in prison for his charges, though a sentence has not yet been proclaimed. What is Mike Madigan’s net worth? Mike Madigan didn’t have much to speak of financially before the trial, but even that was completely eradicated following his convictions. In 2021, Madigan reportedly began receiving pension payments of an estimated $158,026.68 annually. Since his retirement in 2021, the former state rep has only collected $521,220.12. However, his pension has been suspended since the conviction, and Madigan no longer has access to the funds. He received a notice from the General Assembly Retirement System of Illinois (GARS) on Thursday, Feb. 13, informing him of the suspension. According to GARS policy, an opinion from the Attorney General’s office must be issued to determine whether a convicted individual’s pension should be forfeited. If the Attorney General’s office states that Madigan must forfeit his pension, he will not receive any further funds.