Major, major news from D.C. Wire:

The chief-of-staff to D.C. Council Member Jim Graham (D-Ward 1) was arrested Thursday morning by federal agents on bribery charges, according to a source familiar with the investigation.

Ted G. Loza, 44, was taken into custody at his home. He is due to appear in the District’s federal court Thursday afternoon.

The Post report has since been updated to say that federal agents are currently searching Loza’s office. Graham is reportedly out of the office today.

This is sure to be a huge story, so stay tuned.

1:24 p.m. Tom Sherwood, via Mike DeBonis, has information he says links the probe to “Loza’s involvement in overseeing taxicab legislation.” Graham is also reportedly on the scene now, and is speaking to his staff in a private meeting.

1:49 p.m. The Post’s Del Quentin Wilber has more details now on the specifics of the indictment:

In a 10-page indictment unsealed Thursday, authorities allege that Loza accepted separate $1,000 and $500 cash payments in recent months from an individual with “financial interests in the taxicab industry.” That person, identified only as Individual Number 1 in the indictment, provided Loza a “stream of things of value,” including “cash, the use of vehicles and trips,” the indictment says.

In exchange, the indictment says, Loza agreed to promote legislation and policies that helped the unnamed individual.

And Jim Graham introduced precisely that legislation in short order after Loza met with this person, according to the FBI.

Not to excuse Loza’s alleged actions in any way, because the accusations against him are pretty damning (keep reading to the end of the article, when the affidavit describes him being tape recorded as accepting one envelope of cash and then saying, “You know I need it,”) but the real shame of it all is that what “Individual Number 1” wanted was to push for a limited taxi license medallion system plus incentives for hybrid vehicles – neither of which are bad things in our book. These revelations will surely torpedo any chance that Graham had of passing this legislation. That Graham introduced his bill, which was co-sponsored by Ward 4 Council member Muriel Bowser, in such an obvious time frame that coincided with Loza accepting bribes – there’s just no way this bill won’t be seen as tainted.

Also, $1500? That’s all it takes to bribe local officials these days?