Stevens Denies Hiding Funds From Senate

Sen. Ted Stevens, R-Alaska, taking the stand in a Washington courtroom for a second day, Friday denied concealing financial information from the Senate.

The Senate’s longest-serving Republican was the final defense witness in his trial on felony charges of failing to include more than $250,000 in gifts and home renovations on his Senate financial disclosure forms.

Stevens testified he and his wife paid for all improvements on their Alaska home, CNN reported.

Questioned by defense attorney Brendan Sullivan, Stevens explained how he planned to finance the renovations eight years ago that more than doubled the size of the couple’s chalet in Girdwood, about 40 miles from Anchorage.

“We were going to borrow money from the bank, and use the chalet as security,” he said.

Defense attorneys throughout the trial have maintained that the Stevens and his wife paid about $166,000, which covered all costs the couple knew about.

Prosecutors allege some of the renovations and other gifts were provided by Bill Allen, a former oil industry executive who pleaded guilty to trying to bribe Alaska state officials. Stevens was not accused of bribery.

The trial is expected to go to the jury next week. Stevens, 84, is running for re-election.