Alaska Senator Ted Stevens found guilty

Alaska Sen. Ted Stevens has been convicted of lying about free home renovations and other gifts he received from a wealthy oil contractor.

The Senate’s longest-serving Republican, Stevens was found guilty on all seven counts of making false statements on Senate financial documents.

The verdict throws the upcoming election into disarray. Stevens is fighting off a challenge from Democrat Mark Begich and must now either drop out or continue campaigning as a convicted felon.

The trial hinged on the testimony of Stevens’ longtime friend, who testified that his employees dramatically remodeled the senator’s home.

Stevens faces up to five years in prison on each count but, under federal sentencing guidelines, will likely receive much less prison time, if any.