Ted Stevens has been indicted by federal grand jury on seven criminal counts for making false statements in his Senate financial disclosure forms. Stevens is the highest-profile politician ensnared in the corruption scandal surrounding VECO Corporation and its executives' attempts to influence politics.
VECO, an oil pipeline and services company, is alleged to have funded renovations to the Stevens home in Girdwood, Alaska in 2000. In 2007, Veco chief executive Bill Allen pleaded guilty to charges of extortion, bribery, and conspiracy.
The indictment alleges that Stevens "knowingly and willfully engaged in a scheme to conceal" gifts from VECO, which totaled "hundreds of thousands of dollars worth of things of value."
Stevens is the longest serving Republican senator in history. Calls to his office in Washington for comment were redirected to a voicemail indicating his "office is closed."
