Ousted State Treasurer Pleads Guilty to Extortion

Former Pennsylvania Treasurer Robert McCord, who resigned at the end of January, on Tuesday pleaded guilty to two federal extortion charges.

McCord admitted guilt in front of U.S. District Judge John E. Jones III, The Philadelphia Inquirer said, but made no additional comment.

The charges all stem from McCord’s failed bid for governor, The Philadelphia Inquirer said. McCord sought the Democratic nomination for governor in 2014, but lost to now-Gov. Tom Wolf.

McCord, 55, of Bryn Mawr, had been the state treasurer since 2009. There were two years left on his term when he abruptly resigned at the end of January, the Inquirer said.

The Inquirer said that last spring, McCord had spent $2 million of his own money on the gubernatorial primary race. In need of cash, McCord allegedly threatened a law firm and property-management company, saying that if they did not donate to his campaign, he would make it difficult for them to do business in Pennsylvania, pennlive.com reported. The law firm and management company have not been named.

A sentencing date has not been set, The Philadelphia Inquirer said.

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