Alaska Politics Blog : Sen. Ted Stevens indicted on corruption charges (Updated 9:35 a.m.)

Sen. Ted Stevens indicted on corruption charges (Updated 9:35 a.m.)

Posted by Alaska_Politics

Anchorage Daily News

Posted: July 29, 2008 - 8:49 am

Click here for a live C-SPAN2 feed of the Stevens press conference.

Click here to read the indictment.

From Lisa Demer in Anchorage --

U.S. Sen. Ted Stevens was indicted Tuesday morning by a federal grand jury in Washington, D.C., on seven counts of filing false financial disclosures.

Stevens, an icon in Alaska politics, is by far the biggest politician charged in a broad investigation into corruption of Alaska public officials that began more than four years ago.

A press conference is scheduled to begin around 9:30 a.m. Alaska time in D.C.

The seven-count indictment charges Stevens with making false statements by failing to disclose things of value he received from the Veco Corp., an Alaska-based oil services compmany, and from its CEO, Bill Allen, over an eight-year period. The indictment charges that those included substantial improivements to Stevens's home in Girdwood; automobile exchanges in which he received new vehicles that were worth far more than the old ones he exchganged; and household goods.

At the same time, according to the indictment, Stevens received solicitations for official actrions from Allen and and other Veco employyes, and used his office on behalf of Veco. The federal Ethics in Government Act requires all senators to file financial disclosures statements detailing their transactions during the previous calendar year, including the disclosure of gifts above a specified value and all liabilities greater than $10,000.

Allen, the former Veco CEO and Rick Smith, a former Veco VP of Community Affaoirs and Government Relations, pleaded guilty in May, 2007 to providing more than $400,000 in corrupt payments to public officials from Alaska.

The charges come a day shy of a federal raid on Stevens' home in Girdwood. Renovations in 2000 were overseen by Veco Corp. chief executive Bill Allen. The home doubled in size. Witnesses with knowledge of Veco's role have reported testifying before grand juries in Anchorage and Washington, D.C.

Stevens has said he paid all the bills he was presented, leaving open the question of whether he was billed the entire amount.

Stevens, 84, is the longest serving Republican senator in the U.S. Senate. From 2003-07, he was president pro tem, third in line to the presidency.

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Sen. Ted Stevens indicted on corruption charges (Updated 9:35 a.m.)

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