NEW : Judge sets bail at $ 500 . Mayor of Arizona is indicted on fraud , money laundering charges . The mayor is also accused of money laundering , conflict of interest , illegally conducting an enterprise and fraud . Search warrant executed at mayor 's home , office , car . Charges allege mayor took money to pay bond .
NEW : Judge sets bail at $ 500 . Mayor of Arizona is indicted on fraud , money laundering charges . Search warrant executed at mayor 's home , office , car . Charges allege mayor took money to pay bond .