More Woes for Stevens
Jul 31, 2020890.2K Shares15.3M Views
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.
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
In his free time, he loves to travel, watch films, read books, and socialize with friends.
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