Rep. Charles Rangel raising funds for a legal defense trust

Saddled with legal fees and facing possible new allegations, Rep. Charles Rangel said Tuesday he has started raising funds for a trust to pay his legal expenses.

A statement from Rangel, D-New York, said the House Committee on Standards and Official Conduct authorized his fundraising for the Charles B. Rangel Legal Expense Trust.

Rangel said the fund would allow him to "retain counsel for ongoing activities related to the recently concluded ethics investigation and other ongoing matters."