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The Washington Independent
The Washington Independent

More Woes for Stevens

Ismaeel Delgado
News
Last updated: Jul 31, 2020 | Aug 15, 2008

Seems that the deal-making Ted Stevens wasn’t active only in Alaska, but in Florida as well. According to new court documents filed by federal prosecutors yesterday, the six-term Republican allegedly failed to report a $31,000 interest-free loan he took out from an unnamed friend to buy a South Florida condo in 2001.

According to prosecutors (pdf), Stevens was required to put $36,000 down on the unbuilt Gold Coast unit — 10 percent of the $360,000 purchase price — but only dropped $5,000 himself. The remaining $31,000 was picked up by the friend.

But it appears the Stevens family never intended to live there, and a few months later, the property was sold for $515,000 (nice!). A few weeks afterwards, Stevens wrote two separate checks to the friend — one for $15,000 and another for $16,000. (The first was sent on Sept. 12, 2001, according to prosecutors, leaving some wonder as to why he wasn’t busy with other diversions that day.) Trouble was, the government says:

Although Stevens knowingly carried debt on a $31,000 interest-free loan from his personal friend for more than 10 months during 2001, Stevens did not list such a liability on his 2001 disclosure form.

But hell, maybe the constitutional separation of powers allows that as well.

Ismaeel Delgado | Ismaeel Delgado has been working for the Ministry of Information and Communications as a Technical Officer for the past five years. He is an Electronics and Communication Engineer with a Masters in Information and Communication Engineering. He is involved in the review, revision, redesign, and expansion of the required structure, legislation, laws, and technically relevant national planning and program for spectrum management based on ITU radio regulations as a technical officer in the Ministry of Information and Communications' Frequency Management Department.

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