Ex-Oil (VECO)magnate sowed political influence (with Republicans)

[UpInArms]

Source: Associated Press

ANCHORAGE, Alaska - The former head of the oil field services company VECO Corp. was once a model of political clout.

From the halls of Congress to the Alaska capital city of Juneau, Bill Allen spent more than two decades throwing lavish fundraisers for favored candidates, sending them generous campaign contributions and lobbying hard for the oil and gas industry.

But Allen's seemingly unshakable influence ended abruptly this year when the founder and then-chairman of VECO pleaded guilty to bribing state legislators.

Now, he appears to be the link between at least three investigations of Alaska politicians by the Department of Justice, the FBI and the Internal Revenue Service.

Two influential members of Alaska's congressional delegation, Sen. Ted Stevens and Rep. Don Young, both Republicans, are under investigation for their relationships with VECO. And three former Republican state legislators have been indicted since December for accepting bribes from Allen and other high-ranking VECO officers. Stevens' son, Ben, former president of the state senate, also is under investigation for ties to VECO but has not been charged.

Read more: http://news.yahoo.com/s/ap/20070805/ap_on_re_us/oil_and_politics;_ylt=AuJy3RcB8BQA1zzAHgTAJ.Nv24cA

[merh]

1. Isn't VECO on of the oil corps whose board

Bill Richardson sat on after he left the Clinton admin?

I know Diamond was.