A federal grand jury indicted former NewarkMayor Sharpe James Thursday on corruption charges.

James, 71, is accused of using city-issued credit cards to spend extravagantly on himself, eight women and others during vacations. He is also accused of arranging sweetheart deals involving city-owned land.

James? companion, Tamika Riley, is also listed in the indictment. The indictment outlines several deals that involved selling the city-owned property to Riley at discounts, which were then quickly flipped for significant profit. Riley has been charged with fraud.

James, also a state senator since 1999, voluntarily surrendered to the FBI after the indictment was announced. His bail was set at $250,000. Riley was arrested by the FBI. Her bail was set at $100,000.

AP wires contributed to this story.

Related Information:James-Riley Indictment