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McLaughlin pleads guilty to racketeering

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According to the U.S. attorney's office for the Southern District, McLaughlin, 55, signed a plea deal that will recommend he serve between eight and ten years in prison. Judge Richard Sullivan is not bound to the details of the plea deal, however, and will have the final say at McLaughlin's sentencing, scheduled for Sept. 12.

McLaughlin pleaded guilty to one count of racketeering and one count of making false statements on a loan application, according to the plea agreement. He faces a maximum of 30 years in prison for the racketeering charge, and another 20 years in prison for the false statements charge.

Mclaughlin was freed on $250,000 bail Friday.

McLaughlin was charged by federal investigators in 2006 with stealing more than $2 million from city unions, nonprofits, his own campaign committee and the Electchester Little League, according to an 186-page, 43-count indictment filed by the U.S. attorney's office in Manhattan.

Reach reporter Stephen Stirling by e-mail at Sstirling@timesledger.com or by phone at 718-229-0300, Ext. 138.

Updated 6:57 pm, October 10, 2011
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