Rep. Renzi quits panel during federal probe

Ariz. congressman denies any wrongdoing in 2005 land swap deal

NBC Video: Politics

Sen. Reed on Russia, U.S. economy
July 6: Newsmaker: Sen. Jack Reed, (D-R.I.), speaks with MSNBC’s Carlos Watson about President Obama’s first Russian-American summit and the effectiveness of the U.S. stimulus package.

Jackson memorial, at what cost?

Misreading of the bad economy

Can Moscow relations improve?

Palin's hometown reacts to resignation

Palins, gone fishin'

Henry Kissinger on Obama

Biden to swear in Franken tomorrow

Slideshow

The Week in Political Cartoons
Msnbc.com’s political cartoonists take a look back at the past week.

more photos

updated 12:08 p.m. ET April 20, 2007

WASHINGTON - U.S. Rep. Rick Renzi, R-Ariz., is temporarily stepping down from the House Intelligence Committee amid an ongoing federal investigation.

In October, Justice Department officials confirmed that Renzi was the subject of an inquiry into a 2005 land swap that would benefit a friend and business associate.

Renzi has denied any wrongdoing.

Story continues below ↓

advertisement | your ad here

Bringing out the truth
In a statement issued Thursday from Washington, Renzi said, "The FBI came to my family's business to obtain documents related to their investigation.

"I view these actions as the first step in bringing out the truth. Until this matter is resolved, I will take a leave of absence from the House Intelligence Committee. I intend to fully cooperate with this investigation."

Renzi, elected to his third term last November, did not elaborate on the federal probe.

The Arizona Republic reported that FBI agents raided an insurance agency owned by Renzi's wife in Sonoita, a town near Sierra Vista.

Renzi referred all questions to his Washington-based attorney, Laura Miller, who did not immediately return calls Thursday night.