What's Ted's connection?

Stevens’ Secret Florida Condo Deal

Senator Stevens Secured Sweetheart Florida Condo Deal With A Secret Loan From A Friend. The Anchorage Daily News reported that Department of Justice prosecutors allege that Stevens received a, “…secret, interest-free loan [that] allowed him to make a killing in a Florida condominium investment six years ago.” [Money for condo believed to have come from lifelong friend, Anchorage Daily News, 08/16/08]

• The Department Of Justice Released Evidence Alleging That Stevens Turned Secret $5,000 Investment In A Florida Condo Development Into More Than $100,000 In Quick Profits. According to the Anchorage Daily News, “The Florida transaction began in 2001, a year after Allen began renovating Stevens’ Girdwood residence, and a time at which Stevens was approaching the pinnacle of his power in the Senate. On Feb. 4, 2001, Stevens and his wife, Catherine, signed a purchase contract with a development company about to build a condo project in Florida, agreeing to buy a garden unit for $360,000. The contract was a standard one and required a 10 percent down payment – $36,000 – but Stevens only put down $5,000, the motion says… The government said Stevens was required to disclose any loan over $10,000 during 2001, but failed when it came to the condo loan. “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,” the government said.” [Anchorage Daily News, 8/15/2008]

• According To Official Court Documents, Stevens Sent A Check For Part Of His Loan On The Florida Condo On September 12, 2001 – Just One Day After The Terrorist Attacks On America. According to court documents, “The government will further prove that it was only after reaching the August 21, 2001, agreement to sell their to-be-constructed condominium at a substantial profit that the Stevenses repaid the $31,000 deposit that was “funded” by Person C. On September 12, 2001, Stevens requested his United States Senate staff send a $15,000 check, drawn on Stevens’ personal checking account, to Company B.” [Department Of Justice Court Documents for Criminal No. 1:08-cr-00231-EGS]