Former U.S. Secretary of Transportation Ray LaHood admitted to federal prosecutors that he accepted a loan from a foreign billionaire and failed to disclose the check on government forms.

WASHINGTON, DC – FEBRUARY 22: U.S. Secretary of Transportation Ray LaHood (L) answers questions during a briefing as the White House with Press Secretary Jay Carney looks onFebruary 22, 2013 in Washington, DC. LaHood said during the briefing that more than 100 air traffic control towers would be closed if budget cuts implemented due to sequestration happen. (Photo by Win McNamee/Getty Images)