The Board of Elections announced Wednesday it has decided to hold hearings into Mike Easley campaign finances.

The meeting will take place on Oct. 26 at 11 a.m. to examine evidence about Easley's Committee and the state Democratic Party, according to Board Director Gary Bartlett.

Bartlett says the panel could reprimand the groups or clear them, issue fines or refer the cases to a district attorney for possible criminal charges.

This decision comes after weeks of the Board trying to decide if there should be a hearing in the case. Board staff has been investigating Easley campaign records since the campaign changed reports after failing to disclose the use of a car. The board also is examining if free airplane flights for Easley exceeded donation limits.

If history is any indication Easley is facing a serious situation according to Peace College Political Science Professor David McClennan, who said Easley's problems follow other prominent democrats like Meg Scott Phipps and Jim Black who both ended up in federal prison.

""It's [the NC Democratic Party] very connected financially, it's very connected in terms of appointments and so I think this is sort of the culmination of a hundred years of one party being in control of North Carolina politics," McClennan said.

Gary Bartlett, Board of Elections Director, said the board wants a complete public airing of the findings.

"There was sufficient information enough where the chairman thought would be helpful for the state board to hear the report from campaign finance."

He said it's possible Easley would have to show up at the hearing but that won't be known until subpoenas are issued in a few weeks.

The Democratic Party in July forfeited more than $24,000 in contributions that had been reported earlier this decade.

"We support the Board of Elections and welcome a full, open, and fair hearing to determine the facts as expeditiously as possible," said N.C. Democratic Party Chairman David Young. "We will continue to assist the Board in any way possible."

Statement of John R. Wallace, Counsel to The Mike Easley Committee:
"Since issues regarding the Easley Committee campaign reporting arose in the spring, the Easley Committee has provided over seventeen' years worth of Committee records to the Board for its review and has responded to questions from the Board's staff. The Committee has cooperated fully with the Board and will continue to cooperate with the Board in connection with the hearing noticed today."

Gov. Beverly Perdue issued the following statement Wednesday afternoon:
"As I've said from day one of this administration, I'm committed to transparency and accountability in our government. I believe it is critical for the people of North Carolina that we have a thorough and public review of these issues."

Full Coverage: Mike and Mary Easley Investigations

Stay with NBC17 and MyNC.com for more details as they become available.