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Speaker of the New York State Assembly Sheldon Silver in front of the State Capitol March 12, 2008 in Albany, New York. (Daniel Barry/Getty Images)

New York State Assembly Speaker Sheldon Silver was arrested this morning on corruption charges, the New York Times reports. The charges against the powerful Democrat, who represents much of Lower Manhattan and whose influence in Albany is well-known, stem from “substantial payments” he received from a New York City law firm.

“While it is legal for lawmakers to hold outside jobs,” the Times reports, “investigators said Mr. Silver failed to list the payments from the firm, Goldberg & Iryami, on his annual financial disclosure filings with the state.”

While Silver, a lawyer, has long received income from various law firms while serving in the State Assembly, the payments from Goldberg & Iryami piqued federal investigators’ interest since the firm specializes in tax certiorari, a highly specific element of real estate law that Silver doesn’t practice.

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