Rick Renzi, a former US Congressman from Arizona, was found guilty of 17 felony charges in his federal corruption trial. Mr. Renzi was accused of embezzling money from his insurance brokerage firm and funneling the cash to his election campaign, and of extortion in connection with a proposed federal land exchange in an ore-rich area of Arizona. Mr. Renzi is free on bail until his sentencing hearing on August 19th.