Scrutinized Investment Made Senator $822,000

Scrutinized Investment Made Senator $822,000: "Scrutinized Investment Made Senator $822,000 | By Chuck Neubauer, Times Staff Writer | June 15, 2005

WASHINGTON — Sen. Ted Stevens (R-Alaska) made $822,000 last year from the sale of a controversial real estate investment with an Anchorage developer who had obtained a huge federal contract with his help, records show.

In 1997, Stevens invested $50,000 with developer Jonathan B. Rubini. Last year, at Stevens' request, Rubini and his partner bought back the senator's interests in their deals for $872,000, according to Senate financial disclosure forms made public Tuesday.

About three years after he made that investment, Stevens helped Rubini secure a $450-million Air Force housing contract. The senator had no financial interest in that deal. ...