More money, more problems

Alaska Sen. Ted Stevens faces new accusations in a federal criminal case that threatens his political career.

Published August 15, 2008 9:20PM (EDT)

It must be nice to be Ted Stevens. Not only do you get the federal government to spend $398 million on a bridge to nowhere (or at least, begin spending it before shutting the project down), but you get thousands of dollars in interest-free loans to help buy condos, too!

Or at least that's what federal prosecutors are now alleging in the criminal case that is proceeding against Stevens, Alaska's senior Republican senator, in the Anchorage courts. Court papers filed late Thursday shed a little more light on the case against Stevens, who's also accused of failing to disclose thousands of dollars in home renovations provided free of charge.

The new papers allege that Stevens was supposed to buy a $360,000 condo, then flip it for a $129,250 profit. But a personal friend put up the money he used as a deposit on the deal.

This may be great news for Anchorage Mayor Mark Begich, the Democratic candidate for Senate this fall, but only if Stevens survives a seven-way GOP primary on Aug. 26. Which is looking less likely every time the U.S. Attorney's Office shows up in court.

By Mike Madden

Mike Madden is Salon's Washington correspondent. A complete listing of his articles is here. Follow him on Twitter here.

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