His son, Matthew Libous, an attorney, is also facing separate tax offenses.
According to the United States Attorney's Office, State Senator Libous took advantage of his position as Senator and Chairman of the Transportation Committee.
Federal prosecutors say Libous corruptly had lobbyists funnel money through a law firm to his son, where Libous had gotten him a position.
Prosecutors say Libous then lied to federal investigators about what he knew, including about remembering how his son began to work at the law firm, about supposed deals made to get his son the job, and about being aware that a lobbying firm paid part of his son's salary at the practice.
In turn, the government says lobbyists sought Libous's influence to benefit their clients.
Libous's 32-year-old son is facing tax charges for allegedly not reporting hundreds of thousands of dollars of income and benefits.
Both Senator Libous and his son could face prison time if convicted.
They were both in court today in White Plains and released on bail.
A spokesman for Senator Libous says he has served the residents of the Southern Tier with honesty and integrity for the past 26 years and that he's innocent and will run for re-election.
Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.