Republican Sen. Ted Stevens of Alaska was found guilty on Monday on seven counts of failing to report home renovations and other gifts from a wealthy contractor.
In addition to facing five years in prison, the verdict is a blow to Stevens’ political career and to Republican hopes to win enough seats in next Tuesday’s election to maintain a filibuster threat against a likely Democratic majority.
Stevens, 84, was accused by federal prosecutors of receiving $250,000 in gift from 1999 to 2006 and failing to report them on his financial disclosure forms.
Stevens, a 40 year member of the Senate, is facing Democrat Mark Begich in next weeks’ elections.
Prosecutors charged that Bill Allen, the CEO of VECO Corp. and a close friend of Stevens, used his company’s employees and helped pay for more than $180,000 in home renovations for the senator without being reimbursed.
Stevens claimed he paid more than $160,000 for the project and that his wife handled the couple’s finances.
Stevens had requested a speedy trial in order for a resolution of the case before the election.
