Veteran Republican U.S. Sen. Ted Stevens was charged on Tuesday with concealing more than $250,000 (126, 200 pounds) worth of gifts, including home renovations, that he received from an Alaska oil services company, the Justice Department said.
The Alaska politician, who has served 40 years in the Senate, was charged in a federal grand jury indictment with seven counts of making false statements on his Senate financial disclosure forms from 2001 to 2006, the department said.
Stevens denied the charges but said he stepped down as required by party rules as top Republican on the Democratic-led Commerce Committee, Appropriations Subcommittee on Defence and Homeland Security subcommittee on Disaster Recovery. He gave no indication he planned to resign from the Senate.
"I am innocent of these charges and intend to prove that," Stevens said in a statement. "I have never knowingly submitted a false disclosure form required by law as a U.S. senator."
There was no immediate indication that Republicans would try to pressure Stevens to resign, but it was "unclear how things will develop," a Republican aide said.
Patti Higgins, chair of the Alaska Democratic Party, said Stevens "should step down." She said, "Alaskans need representation in the Senate that they can trust."
In the event Stevens resigns, Alaska's governor cannot appoint a successor and a special election would be held between 60 and 90 days of his vacating his Senate seat, according to Alaska state rules.
Stevens is accused of receiving substantial improvements to his Alaska home that included a new first floor, a finished full basement, a wraparound deck, and plumbing, electrical and heating work.
The indictment also charged that he received a new vehicle in exchange for an older one worth far less, and household goods such as furniture and a new gas range, the Justice Department said.
The charges followed a wide-ranging corruption investigation in Alaska coordinated by the department's Office of Public Integrity that began in 2004, officials said.
The senator faces a tough campaign for re-election in November. Democrats view Stevens as highly vulnerable as they seek to expand their Senate majority, now at 51-49.
