Louisiana speaker fined over horses

Charlie DeWitt, the Speaker of the Louisiana State House of Representatives, will pay a $5,000 fine for violating the state's ethics code through his ownership stake in two racehorses, the New Orleans Times-Picayune reported Thursday.

Bryan and Vickie Krantz, owners of Fair Grounds gave DeWitt a 49-percent stake in two racehorses. The horses failed to turn a profit, but an investigation by the Times-Picayune found DeWitt and two business partners never were asked to pay expenses for the horses. In the past, DeWitt has been involved with horse racing-related legislation.