After turning himself in Monday afternoon, Alabama House Speaker Mike Hubbard was booked at the Lee County Jail. (special)

MONTGOMERY, Alabama --- Mike Hubbard, speaker of the Alabama House of Representatives and a powerful leader in the state Republican Party, has been indicted by a grand jury and charged with 23 counts, including using his office for personal gain and soliciting things of value.

Late Monday afternoon, Hubbard reported to the Lee County Jail where he was booked.

If convicted, Hubbard faces a maximum penalty of two to 20 years in prison and up to $30,000 in fines for each count.

Hubbard, 52, who led a historic Republican takeover of the state Legislature during the 2010 election, was charged after an investigation in his home county that has lasted more than a year.

The charges against Hubbard include 23 class B felonies. Those charges include:

Four counts of using of his office as Chairman of the Alabama Republican Party for personal gain;

One count of voting for legislation with a conflict of interest;

Eleven counts of soliciting or receiving a thing of value from a lobbyist or principal;

Two counts of using his office as a member of the Alabama House of Representatives for personal gain;

Four Counts of lobbying an executive department or agency for a fee;

One count of using state equipment, materials, etc. for private gain.

According to the indictment, Hubbard solicited favors from some of Alabama's rich and powerful. They include former Alabama Governor Bob Riley, Business Council of Alabama CEO Billy Canary, Hoar Construction CEO Rob Burton, Great Southern Wood CEO Jimmy Rane, former Sterne Agee CEO James Holbrook, lobbyist Minda Riley Campbell, Harbert Management Corp. vice president Will Brooke and political operative Dax Swatek.

[RELATED: Former Alabama Gov. Bob Riley, Auburn Network among people, businesses linked to case]

Most gave Hubbard what he wanted, according to the indictment, including major investments into Hubbard's company, Craftmaster Printing.

Hubbard's lawyer, Mark White, told reporters outside the Lee County Jail that they would hold a press conference Tuesday to address the charges.

"We'll be ready to fire back," White said.

In a video posted to Facebook, Hubbard called the indictment political.

"Friends, if there was any doubt that this was a political witch hunt, I think it is pretty clear right now that is exactly what it is," Hubbard said. "This has been going on for two years, dragging on and on, and here they come two weeks before an election and make these allegations. The fact is that we've done some great things in this state and some powerful people don't like it."

According to White, Hubbard still intended to attend a previously scheduled campaign forum Monday night at Auburn City Hall.

The special grand jury was called last year. Attorney General Luther Strange recused himself from the investigation and appointed former St. Clair County District Attorney Van Davis to oversee it.

A letter from Strange to Davis made public in court records named Hubbard as the focus of the probe.

Hubbard has denied wrongdoing and has said the investigation is politically motivated.

The indictment does not remove him from office or his position as speaker.

Earlier this year, the investigation resulted in charges against two other state lawmakers.

Rep. Greg Wren, R-Montgomery, pleaded guilty to a misdemeanor charge of using his office for personal gain. He resigned his House seat, was ordered to pay $24,000 in restitution and agreed to cooperate with investigators.

Rep. Barry Moore, R-Enterprise, was charged with perjury and giving false statements. Prosecutors accused Moore of lying to the grand jury in January.

Moore has pleaded not guilty and is scheduled for trial beginning Oct. 27 in Lee County Circuit Court.

Mike Hubbard Indicted On 23 Felony Charges 10 Gallery: Mike Hubbard Indicted On 23 Felony Charges

This story is breaking and will be updated.

This story included reporting by Mike Cason, John Archibald and Kyle Whitmire.