Mr Rangel had been accused of 13 counts of engaging in financial and fundraising misconduct An eight-member House ethics committee has found Democratic Representative Charles Rangel of New York guilty on 11 counts of breaking House rules.
The panel will make a recommendation to the House of Representatives on appropriate punishment for Mr Rangel following a hearing.
The 80-year-old had been accused of 13 counts of engaging in financial and fundraising misconduct.
He is a former committee chairman with 40 years’ service in Congress.
Possible punishment options the committee may consider include a House vote deploring Rangel’s conduct, a fine and denial of privileges.
The senior New York congressman walked out of a hearing on the ethics counts on Monday in protest at the panel’s refusal to postpone the proceedings while he found a new lawyer.
Mr Rangel was first elected to Congress in 1970 from a heavily Democratic district in New York City’s Harlem district.
Despite the charges against him, he won re-election on 2 November with 80% of the vote.
He stepped down as chairman of the House Ways and Means Committee, which handles tax legislation, amid the ethics allegations in March.
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