Sen. Stevens turns $5,000 real estate investment into $129,250

[L. Coyote]

Sen. Stevens turns $5,000 real estate investment into $129,250
By: Taxpayers Sense | Submitted on: 08/19/08 | http://www.smallgovtimes.com/story/08aug19.stevens.investment/


EDITORIAL - New information has surfaced that alleges Senator Ted Stevens (R-AK) turned a $5,000 investment into $129,250 profit with the help of a secret no-interest loan that the Senator had not previously disclosed.

Federal prosecutors filed a new motion late yesterday that alleges that between 2001 and 2003, Sen. Stevens had been “intimately involved in a Florida real estate transaction” with an unknown individual who the prosecutors describe as a “personal friend.” After an initial investment of a mere $5,000, the prosecutors allege that “Stevens’ friend sold his real estate interest only six months later, with an eventual gross profit to Stevens of more than $100,000." Stevens' own 2003 disclosure reports put the exact profit from the transaction at $129,250.

The condo is part of Carroll Walk Condominium Project, a fifteen-story waterfront luxury-condo project "right at the heart of South Florida’s hottest and most exciting area- the Gold Coast." ..........

[L. Coyote]

1. Alaskan Bribing CEO Enjoys Window of Freedom

Alaskan Bribing CEO Enjoys Window of Freedom
by Eric Umansky - August 18, 2008 - http://www.propublica.org/article/alaskan-bribing-ceo-enjoys-window-of-freedom-818/


Alaskan politicians are facing a lot of heat these days. The state's senior senator, Ted Stevens (R), has of course been indicted for not disclosing booty he received from an Alaskan oil company, VECO. Five other state politicians have also been indicted for allegedly taking bribes from VECO. So what happened to the VECO folks who offered the bribes?

VECO's two top former officers, CEO Bill Allen and vice president Rick Smith, pleaded guilty last year. But according to today's Anchorage Daily News, Allen has yet to serve jail time. Rather, he's been cooperating with prosecutors who in turn have helped push back his start date for jail to February 2009. In addition to having their sentences reduced, defendants who cooperate with prosecutors often have their start date delayed.

In the meantime, Allen arranged the sale of VECO for nearly $365 million. According to the Daily News, each of Allen's three grown children, who co-owned VECO, earned about $30 million from the sale. Allen himself reportedly earned about $7 million.

All of which has allowed Allen to enjoy some nice living before he has to head off to more cramped quarters. .........

[stewert]

2. Investment = Bribe

Don't you know the Justice Department does not have time to prosecute a Senator who took bribes, they have more important things to do. Like investigate John Edwards for buying his g/f a house.

[Greyhound]

3. Just another of those all-so-common amazingly lucky investments

that so many politicians, from both sides of the isle, seem to always make.
:eyes: