At the moment, it’s looking like he might take a dent from it.

The video report from NBC News:

The story from WCBS New York:

NEW YORK (CBS) ― Sources tell CBS 2 HD Bernard Kerik was indicted by a federal grand jury on Thursday, a development many expected after prosecutors had sought criminal charges for tax fraud, corruption, and conspiracy charges against the former NYPD commissioner.

Kerik is expected to turn himself in at the federal courthouse in White Plains on Friday.

The charges plunge Kerik back into severe legal jeopardy, and it could damage the presidential hopes of GOP candidate Rudy Giuliani, who is at a critical juncture with the Iowa caucuses less than two months away.

In his exclusive interview with CBS 2 on Tuesday, Kerik seemed aware he could impact Giuliani’s White House bid.

“It’s horrible, and people have got to look at Giuliani for the person he is, the leadership skills he has, the management skills he has and what he can do for this country,” he said.

Reports surfaced earlier this week that Giuliani knew more about Kerik’s relationship with Interstate Industrial Corporation than he’s let on. He’s responded by defending Kerik but apologizing at the same time.

Well at the moment it doesn’t look too good. However, it will all depend on whether Giuliani was aware something was up with Kerik over the years. It will probably also depend on any information which comes out from the indictment and possible trial.

Giuliani has apologized and been trying to distance himself:

“I should have done a better job of checking him out. I didn’t and I’ve apologized for that,” Giuliani said.

Time will tell, and I think we’ll know sooner than later. I personally doubt it will much effect unless something truly damning to the Giuliani campaign comes out.