`Uncle Ted' Stevens's Corruption Probe Imperils Aid for Alaska

[Purveyor]

Aug. 2 (Bloomberg) -- The federal corruption investigation of U.S. Senator Ted Stevens not only threatens the career of the longest-serving Republican in Senate history, it also puts at risk the billions of dollars that ``Uncle Ted'' steers to Alaska.

``Republicans, Democrats, everybody still hopes that nothing has gone wrong here, since he's so important to the state,'' said Republican State Representative Ralph Samuels, the majority leader in Alaska's House.

Stevens's ability to deliver for Alaska may be what has gotten him in the crosshairs of investigators in the first place. Among the issues the FBI is examining is whether a $1.6 million appropriation that Stevens endorsed helped his son's business partner, the Washington Post reported yesterday, citing unidentified people familiar with the probe.

Stevens, 83, who has said he will seek re-election in 2008, is known as ``Uncle Ted'' among Alaskans, in part, because of the money he has gotten for the state. Alaska's coffers stand to lose the most if an FBI raid on his home earlier this week leads to his departure from the Senate.

Federal Bureau of Investigation and Internal Revenue Service agents searched his home just south of Anchorage on July 31, at least the fourth time since 2005 the FBI has raided the residence of a federal lawmaker. Stevens is being investigated over his relationship with an oil-field engineering firm.

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